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Security Service FCU expands product line with Centrix Financial program

ENGLEWOOD, Colo. - Security Service FCU, San Antonio, Texas has become the largest CU to date to participate in Centrix Financial LLC's CentrixT Portfolio Management Program (PMP). With $2.2 billion in assets and a membership base of 440,000, SSFCU is the 12th largest credit union in the U.S. Financial institutions...

By Staff Writer | Updated on November 06, 2001

ENGLEWOOD, Colo. – Security Service FCU, San Antonio, Texas has become the largest CU to date to participate in Centrix Financial LLC’s CentrixT Portfolio Management Program (PMP). With $2.2 billion in assets and a membership base of 440,000, SSFCU is the 12th largest credit union in the U.S. Financial institutions participating in PMP receive a financial guarantee on each PMP loan. The guarantee insures against principal loss in the event of default. Loans are approved on a loan-by-loan basis, and securitization is further insured by a large pool of funding capital from a network of participating financials. Loans can also be sold on the secondary market if necessary to meet liquidity needs.

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