Program is part of the bureau’s “Know Before You Owe” mortgage initiative.
Despite daily announcements of credit unions converting to new core processors, some say long-term core relationships are best.
The $118M credit union is the first in the state to offer the merchant-funded rewards platform.
The $18 million Newark Firemen Federal Credit Union in Newark, N.J., has completed its conversion to the CU*BASE platform through CU*SOUTH, an Alabama-based CUSO that is an affiliate of CU*Answers, the Grand Rapids, Mich.-based CU*Answers said.
The Michigan-based vendor holds steady at 225 credit unions running its CU*BASE core system.
GoBankingRates.com selected these institutions for their extra effort.
The $187 million First Financial Federal Credit Union in Wall Township, N.J., hired Jennifer Spector as compliance and risk analyst. She has more than 10 years of banking experience, most recently as branch manager for First Atlantic Federal Credit Union in Eatontown, N.J.
The $6.3 billion America First Credit Union in Riverdale, Utah, said it now is the first financial institution in the state to offer merchant-funded offers and loans through a mobile app.
The SBA has promised credit unions and other lenders that they can say goodbye to fax machines and mountains of paperwork.
Utah credit union tells HUD it was following mortgage insurer's requirements.