Want a safe place to get a home loan?
Your credit union is a great choice.
You may be aware that many financial institutions continue to write off large losses related to sub-prime loans and that others are going out of business all together. So, just how is your Credit Union doing in this challenging mortgage environment?
You should take comfort in knowing that your credit union is in great financial shape and has your best interests in mind when it comes to providing home loans! Here are a few reasons why your credit union is a great choice for your home loan:
Mortgage Affordability: First, we don't make loans our members can't afford to repay. That wouldn't be the right thing to do. It also doesn’t make any financial sense for our members or the credit union.
Stability: The bulk of member dollars on deposit are invested in two things - loans to members and temporary investments that earn income for the membership. Our member loan portfolio is strong and performing well. We have never owned any of the sub-prime asset-backed or mortgage-backed securities or collateralized debt obligations that have caused problems for other financial institutions. Also, you have the peace of mind knowing that your deposits are protected by federal deposit insurance through the NCUA, which provides further stability for you and the credit union.
Helping Members: As always, we continue to reach out to our members by providing help and guidance with home loans. We want to assist members who may currently have unaffordable loans from other financial institutions. We do this by providing consumer friendly mortgage products that make sense for our members, whether they’re refinancing or purchasing a home. We can help you successfully navigate through the complexities of selecting the home loan that’s right for you.
Best Practices: Independent auditors review our internal controls, the accuracy of our financial information and our compliance with laws, rules, and regulations. We receive high marks from these auditors and examiners. This means that your credit union continues to do the right thing with respect to our members.
It is our responsibility as a not-for-profit cooperative to improve the lives of our members like you! We will continue to do the right thing by offering mortgage products that are in your best interest. We will also continue to work hard to maintain your trust by offering the best value for our members and by being a safe and sound organization. Your Credit Union is well positioned to meet current and future market challenges and we look forward to helping you with your home loan needs.
