They say everything is bigger in Texas, but one thing that wasn't – the real estate boom and subsequent bust – has worked out for credit unions in a big way.
According to the NCUA's second-quarter statistics, homes in the Lone Star state have gained nearly 5% in value from the real estate boom's peak.
Rick Grady, vice president of communications for the Texas Credit Union League, said laws in Texas that resulted from the savings and loan industry implosion in the 1980s keep mortgage loans below home values and shielded the state from the mortgage bust.
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? Sign In
© 2024 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.
