Credit unions may have their best opportunity ever to boost the portion of mortgage loans that actually go to purchase homes as opposed to loans that refinance previous notes.
Thanks to the real estate bubble and its aftermath in the Great Recession, housing finance has become an increasingly important driver for credit union membership, according to credit union executives around the country.
Find out in this preview from next week's print edition how revived housing demand is driving credit union membership growth.
For the first time ever, credit unions have originated more than 8% of U.S. mortgages originated in any given three month period, according to an analyst with Callahan and Associates.
The 44,000-member, $540 million National Institutes of Health Federal Credit Union, headquartered in Rockville, Md., has been working to prepare its housing finance program for whatever the federal government may choose to do with the two giant mortgage entities Fannie Mae and Freddie Mac.
If there is a credit union determined to not let a crisis go to waste, it is the $4.2 billion Bethpage Federal Credit Union.
Hudson River Community Credit Union, Corinth, N.Y., announced that CEO Susan Commanda will serve a one-year term on the Community Credit Union Committee.
Saugus Financial Insurance Agency, LLC, Saugus, Mass., welcomed as president Jeanne Grant, successor, longtime associate and daughter of