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.
When federal and state authorities and some of the nation’s largest banks agreed in early February to a $26 billion deal aimed at providing relief to nearly two million homeowners hit by the real estate collapse, the news grabbed headlines in major papers.
The budget shortfalls harshly affecting a number of state governments over the past two years seem, for the most part, to have spared credit union regulation any sharp impairment.
There's just no comparison between a foreclosure or walk-away from a $5.4 billion Manhattan 56-building complex and a defaulted loan on a small retail space in a strip mall.