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Public Figures Help $1M CU Launch Affordable Mortgage Program

ALEXANDRIA, Va.-NCUA Board Member Debbie Matz will participate in a press conference slated for Sept. 30 to demonstrate how even some of the tiniest of credit unions can offer affordable mortgages. "As housing prices rise through the roof, low-to-moderate income families are struggling to afford their own homes. Their homeownership...

By Staff Writer | Updated on September 28, 2004

ALEXANDRIA, Va.-NCUA Board Member Debbie Matz will participate in a press conference slated for Sept. 30 to demonstrate how even some of the tiniest of credit unions can offer affordable mortgages. “As housing prices rise through the roof, low-to-moderate income families are struggling to afford their own homes. Their homeownership rate – only 56% – is the lowest since 1978,” Matz commented. “Partnerships can help even the smallest credit unions leverage resources to offer affordable mortgages with low down payments, below-market interest rates, and discounted closing costs.” Shiloh of Alexandria Federal Credit Union’s press conference to unveil the program will include Congressman Jim Moran (D-Va.) and Alexandria Mayor William D. Euille, in addition to Matz, as well as officials from the credit union, Fannie Mae, and CU National Mortgage Corp. The speakers will explain how the partnership will enable the $1 million credit union to help more members afford to purchase their first homes.

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