The biggest obstacles to credit unions launching or growing a housing finance program are lack of staff, concerns about compliance and a lack of leadership from the highest executive levels, according to credit union executives and housing finance consultants.
Training from within one way to address lack of availability of new employees with mortgage lending skills.
Small credit unions in Florida, New York, New Hampshire, Minnesota and Hawaii in mergers with larger credit unions as the new year nears.
Thanks to the real estate bubble and its aftermath in the Great Recession, housing finance has become an increasingly important driver for credit union membership, according to credit union executives around the country.
Find out in this preview from next week's print edition how revived housing demand is driving credit union membership growth.
Promotions, Hirings, Anniversaries
Illinois CU absorbs credit union serving Minneapolis-based retail chain.
Baxter Credit Union is the second CU to offer Visa's Signature Card, a card aimed at the affluent and big spenders.
Three more billion-dollar credit unions have committed to the DeposZip Mobile remote-deposit capture solution offered by Vertifi Software LLC, the tech subsidiary of EasCorp in Burlington, Mass.