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Wright-Patt near 1B mark on home loans since 2009
FAIRBORN, Ohio (2/24/12)--Wright-Patt CU helped more than 2,500 members  in the Dayton, Ohio, area with more than $300 million in financing for homes last year. That means it has loaned nearly $1 billion to members since 2009.

The $2 billion asset, Fairborn, Ohio-based Wright-Patt  said that the Dayton Business Journal reported the credit union now ranks third in total home loan market share in the Dayton metropolitan area.

In addition to its own mortgage production, the credit union generated another $600 million in mortgage loans for credit unions across the country during 2011 through its wholly owned subsidiary, myCUmortgage.  During the past three years, the credit union has added 22 employees to its mortgage division, which now employs 70 people.

"Homeownership is the best way to build wealth and strong communities," said Tim Mislansky, chief lending officer at Wright-Patt CU.

Although the economic downturn has been longer than expected, Wright-Patt has seen first-hand that homes are being bought and sold. Low housing prices and historically low interest rates continue to motivate people to buy a home or refinance, Mislansky said. "As history suggests, when the economy makes consistent upward progress, home prices will increase, but the fluctuations in home values we've experienced still remain a top challenge for sellers and buyers, as well as homeowners refinancing," he added.

"Our members appreciate that we work with them to determine a solution that's in their best interest because of these uncertainties," Mislansky said. He noted that the credit union's delinquency, loan losses and foreclosure activity have remained at less than half the averages for Ohio and about one-third of national averages.  "These results show that the credit union not only helps people buy homes, we help people maintain their home ownership as well."

One way the credit union encourages homeownership is through its Savings Race, in which five teams compete for a $10,000 top prize toward the purchase of a home. It also provides free home ownership classes to the general public.
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