Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
100K granted to R.I. CU to aid homebuyers
WESTERLY, R.I. (5/9/11)--Westerly (R.I.) Community CU Thursday announced it received a $100,000 grant to help low- and moderate-income households with home ownership. A Federal Home Loan Bank (FHLB) approved the $213 million asset credit union to take part in its Equity Builder program, said Meg Sisco, Westerly vice president of marketing (The Day May 6). The Washington, D.C-based FHLB system was created by Congress. FHLBs nationwide are among the biggest source of funding for mortgage lending. Through the home-ownership program, the credit union can award up to $10,000 per eligible family. The awards are provided on a first-come, first-served basis until the funding is gone, the newspaper said. Households that earn 80% of the area’s median income are eligible to participate. Through the program, the credit union said it will offer reduced interest rates for first-time borrowers, and would reduce closing costs by $575.


RSS





print
News Now LiveWire
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
5 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
6 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
6 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
6 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
8 hours ago