MADISON, Wis. (11/19/09)--CUNA Mutual Group is offering a free Discovery Webinar on serving the baby boomer market Dec. 17. Registration for the event begins Monday. The webinar, “Boomers or Bust!” will be held at 1 p.m. EDT. Jeff Hunt, CUNA Mutual consumer program manager, will present the webinar. Attendees of the webinar also will be offered a free white paper that analyzes the retention risk, pinpoints boomers’ needs and lays out a six-step plan to help credit unions evolve into a retiree-focused organization with products, services and guidance to retain the boomer segment. For more information, use the link.
SAN JOSE, Calif. (11/19/09)--Technology CU announced that it will offer adjustable-rate home mortgages (ARMs) up to $1 million. The mortgages target buyers who seek an affordable home loan in California’s Bay Area housing market. The loan’s start rate adjusts after five years, the San Jose, Calif.-based credit union said. “For the last several years, ARMs have developed somewhat of a negative reputation, but today’s ARM is serving a far different market than it was a year or so ago,” said Steve Donahue, Technology CU assistant vice president of mortgage origination. Tighter underwriting standards often require 20% down, which transforms ARMs into a high-end product for buyers with good credit and significant resources, he added. Homebuyers also are eligible for an $8,000 tax credit for purchasing a principal residence through April 30. A $6,500 credit also is available for repeat homebuyers. Technology CU has $1.2 billion in assets.