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With Rates Expected to Rise, Charlie Mac's Programs Coming in Handy for Some CUs

HELENA, Mont. - Charlie Mac continues to show its prowess as a viable secondary market option for credit unions. Through Treasure State Corporate, the $215 million Missoula FCU recently sold off some jumbo loans via CharlieMac's JumboExpress program. The credit union made the move to manage interest-rate risk. Charlie Mac...

By Staff Writer | Updated on June 29, 2004

HELENA, Mont. – Charlie Mac continues to show its prowess as a viable secondary market option for credit unions. Through Treasure State Corporate, the $215 million Missoula FCU recently sold off some jumbo loans via CharlieMac’s JumboExpress program. The credit union made the move to manage interest-rate risk. Charlie Mac buys jumbos either as servicing-retained or servicing-released. Servicing-retained allows the credit union to keep a servicing assets on its books, while servicing-released allows the credit union to receive a premium. Either way Charlie Mac touts the fact that it allows CUs to maintain the relationship with members and does not market to members as some other secondary players might. Charlie Mac is a U.S. Central subsidiary.

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