FAIRBORN, Ohio — As many other sectors of the mortgage market continue to reel from rising delinquencies and foreclosures, another island of good news comes from myCUMortgage here, a division of a wholly-owned CUSO of Wright-Patt Credit Union. myCUMortgage set a new record for home loans in February, helping CUs to place 149 families in new homes.

myCUMortgage president Tim Mislansky observed that while other lenders are pulling back, credit unions involved in myCUMortgage are actively meeting the needs of borrowers with responsible loans. “Our 2008 volume has doubled from the same period one year ago with a 103% increase in dollar amount of loans, and applications are up.”

Mislansky added that he applauded the efforts of all credit unions that are now stepping up and recognizing the opportunity to be more significant in their members' lives by helping more of them with home ownership. They see the shake up in the mortgage market as a real opportunity, and it is.”

While other financials may be cutting staff, myCUMortgage has been adding staff dedicated to home financing and marketing more aggressively, he said. Credit unions can benefit from all the negative news because borrowers are looking to work with institutions they can trust, he said.