BOSTON – The two new keynote speakers for the June 2 Partnering and Leadership Successes mortgage workshop will share ideas on how to reach first-time homebuyers, NCUA Board Member Debbie Matz announced. Neighborhood Reinvestment Corp. New England District Director Nelson Merced will inform PALS attendees about resources in their communities to help credit unions reach the people most in need of affordable mortgages. NRC received a congressional appropriation of $105 million and is able to put nearly $2 billion of direct investments into 2,500 communities through a network of NeighborWorks affiliates. Last year alone, NeighborWorks helped more than 80,000 families with low-to-moderate incomes buy or improve their homes. Felix Torres, executive director of Manchester Neighborhood Housing Services, a NeighborWorks organization, will explain how credit unions can partner with similar organizations to offer innovative mortgage programs to help new members buy their first homes and provide financial counseling to help them keep their homes. “As NCUA’s representative on the Neighborhood Reinvestment Board,” Matz observed, “I see the wonderful work they are doing to help people from all walks of life achieve the dream of homeownership. Their stories can inspire credit union leaders to help young families and new immigrants put down roots in their communities, help long-time renters build wealth for the next generation, and help those who have fallen on hard times become stable homeowners and productive credit union members.” The Massachusetts, New Hampshire, New York, and Rhode Island Credit Union Leagues, NAFCU, and the National Federation of Community Development Credit Unions are co-hosting the Boston event.
The equity distribution was the second since the Temporary Corporate Credit Union Stabilization Fund was merged with the SIF.
The drop suggests the housing market is still struggling as buyers strain to find affordable options.
PSCU also announced that almost 50% of its employees completed training on the significance of the credit union movement.
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