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News Now

CU System
IExaminerI CUs roll out red carpet
SILICON VALLEY, Calif. (10/20/08)--The Silicon Valley Real Estate Examiner prominently mentioned the Credit Union National Association (CUNA) and the advantages of joining a credit union in a Thursday article. “Been to your friendly neighborhood credit union lately?” asked Broderick Perkins, in his article, “Credit Unions Roll Out the Red Carpet.” “What are you waiting for?” he continued. “You could find that elusive home loan you have been unable to get anywhere else.” Credit unions avoided the subprime mortgage mess by lending conservatively, and credit unions are “relatively untainted by the credit squeeze,” he added. Mortgage originations at credit unions rose 10.1% during the first half of 2008, according to CUNA research Perkins cited. He also noted Mortgage Bankers Association statistics, which indicated that bank and mortgage lender loan originations fell 17% during the first half of 2008. “Because credit unions didn’t hop a drunken ride onboard the get-rich-quick home loan assembly line, their members aren’t suffering the kind of housing hangover many homeowners face today,” he said. “Credit unions are solvent, thriving, and rolling out the red carpet, but if you go shopping for a credit union mortgage, leave your subprime attitude at the door,” he added. For the full article, use the link.
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