Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Renaissance CDCU is only FHA lender in New Jersey
SOMERSET, N.J. (7/22/08)--Renaissance Community Development CU (RCDCU) has been approved by the U.S. Department of Housing and Urban Development (HUD) as the only Federal Housing Administration-approved community development credit union lender in the state. RCDCU Board President Shirley Spruill made the announcement Monday. “With so many small credit unions closing or merging, it’s a good feeling to know that just because you are considered small based on your asset size, that with determination and the will to succeed, you can,” Spruill said. “The key to survival for small credit unions is to drop the fear of ‘we can’t because of our size’ and offer products and services that meet the needs of our members,” she added. RCDCU is a member of the National Federation of Community Development Credit Unions. The credit union has $801,014 in assets. HUD must approve all lenders that offer FHA-backed mortgages. Through the FHA program, borrowers within minimum credit scores of 520 can qualify for mortgage insurance, make lower down payments with assistance from grants. FHA currently insures about five million mortgages.


RSS print
News Now LiveWire
Leagues have until Friday, April 25, to enter into @CUNA 's Blockbuster Awards. The original deadline was April 18. http://t.co/rnJYm76N8U
15 hours ago
Found out how members are saving at the ballpark with the help of their #creditunions tomorrow in #NewsNow #CUNA
18 hours ago
First annual meeting of @Cornerstone_CUL under way: http://t.co/Xp710hzRC3
19 hours ago
.@fileneresearch says #creditunions can educate young adults in the ways of retirement planning #NewsNow #CUNA http://t.co/vXToTtBVA2
19 hours ago
.@Cornerstone_CUL #credit unions lead the way in 1st QTR auto sales http://t.co/ZiSsE5HIFP
19 hours ago