Search
 

Consumers Flock to CUs for Mortgages

WINSTON-SALEM, N.C. -- While mortgage originations are down at banks and brokers and headlines highlighting staff layoffs are the norm, credit unions are reporting increased mortgage loan applications and even adding staff to meet the demand. One North Carolina-based credit union said it's all a matter of trust.

By Staff Writer | Updated on September 02, 2008

WINSTON-SALEM, N.C. — While mortgage originations are down at banks and brokers and headlines highlighting staff layoffs are the norm, credit unions are reporting increased mortgage loan applications and even adding staff to meet the demand. One North Carolina-based credit union said it’s all a matter of trust.

First-mortgage loan originations by the nation’s credit unions surged during the first six months of 2008, up 40% over the same period in 2007, according to data provided by Callahan & Associates.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.