Strategic Mortgage Solutions' Tracy Ashfield will moderate an ACUMA-produced Webcast on July 7 that will provide information about how credit unions can participate in government stimulus benefits like the $8,000 first-time homebuyer tax credit.
"The opportunity will expire Jan. 1, 2010," said ACUMA President Bob Dorsa regarding the tax credit. "This means in order to qualify, loan applications will need to be started by the end of November. This could be a great member solicitation tool, but time is of the essence."
The Webcast will provide information regarding eligibility and how homeowners can claim the government funds.
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"Eventually, homeowners will find out about this benefit," Dorsa said. "Why shouldn't it be credit unions assisting them to achieve their American dream?"
There is no charge for the event. ACUMA members will receive invitations to the Webcast, Dorsa said. More information can be found on ACUMA's Web site, www.acuma.org.
Pa. Execs to Volunteer
As many as 50 Pennsylvania credit union leaders are expected to volunteer next month to provide financial and legal guidance to consumers under an initiative put forward by the Obama administration and the state's governor, Edward Rendell.
Following up on an Obama request asking state governors to help fellow citizens deal with the financial crisis, Rendell asked banks, CUs and others in the financial field to help staff guidance centers in the "Get Help Now" program.
The centers, comprising lawyers and financial advisers, will begin work July 7 in local county bar association offices. The program will continue through Sept. 11. Each of the centers will be open two days a week in five-hour shifts.
In a statewide Webcast, Gov. Rendell said he is enlisting attorneys, banking and mortgage professionals, and financial analysts knowledgeable in finance, credit, and bankruptcy to serve on the help desks. Rendell said he hopes to get 2,000 volunteers to sign up.
Joining in support of Get Help Now is the Pennsylvania Credit Union Association, which said there were 28 executives representing 15 CUs attending a kickoff gathering June 22 in Harrisburg.
Hospice Receives Grant
The construction of a North Carolina hospice facility will be able to be completed thanks to $300,000 in pledges from the State Employees' Credit Union's SECU Foundation.
The Mountain Valley Hospice serves terminally ill patients and their families in 16 counties.
"We truly appreciate the generosity of SECU members and will make the best of this SECU Foundation gift to serve our patients and their families," said Denise Watson, executive director of Mountain Valley Hospice.
The SECU Foundation is funded by contributions from members of the $18 billion SECU.
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