Michiana Credit Union Hosts First Mortgage Tent Sale on Airport Grounds

ELKHART, Ind. – An airport probably isn’t where most people expect to see a mortgage tent sale, but that’s where they found mortgage officers from Michiana CU, a division of Bayer FCU on Sept. 11 at the first mortgage tent sale ever held at the Elkhart Municipal Airport. VP of Marketing and Business Development Bob Figuly said the mortgage tent sale was modeled after new auto tent sales credit unions typically hold at fairgrounds. However since there isn’t a fairgrounds near the credit union, it has traditionally held tent sales at the airport. This was the first time a mortgage tent sale was held there. Specifically the event was held in area adjacent to an airport hanger that used to be used by Bayer Corp. Mortgage officers from Michiana CU were on hand to offer mortgage information, seminars and take loan applications. Seminar topics included investment properties, mortgage product types and first time home buying. A mortgage money saving tip coupon was offered to attendees to receive .125 (1/8%) off their approved rate and $300 of closing costs. Figuly said close to 300 people attended the event. Mortgage officers took 10 mortgage applications worth $820,000 which have since been approved, and the CU also gained five new members from the event. Of the 10 mortgage applications that were filed that day, Figuly said they included a combination of refinances and first mortgages. Some of the refis were for mortgages members previously had with other lenders. Michiana CU’s first mortgage portfolio is $62 million. The $225 million credit union has 30,033 members.