The number of mortgage originations issued from credit unions in the first half of 2014 has climbed 10 percent year-over-year.
This
has elevated credit unions to having more than 8 percent share of the
home loan market—about triple their share prior to the recession—making
them a growing option for home buyers looking for financing, according
to data from the Credit Union National Association. “We have a lot of young, first-time buyers, and this is great for someone who’s not eligible for a Veterans Administration loan,”
says Katie Miller, the vice president of mortgage lending. Bottom line:
If you've overlooked credit unions as a source of financing, look
around. You still have to be a member of one to get a loan. Nearly two-thirds of credit unions offer mortgages, read more.
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