Thanks to the real estate bubble and its aftermath in the Great Recession, housing finance has become an increasingly important driver for credit union membership, according to credit union executives around the country.
While for most of the last 40 years, higher interest savings accounts and certificates of deposit, combined with lower interest checking accounts and auto loans have been the most common reasons consumers have joined credit unions, some say more people are becoming members to either finance a home purchase or refinance an existing mortgage.
They are doing so even though some credit unions have still not made mortgage lending a higher priority in their overall membership marketing.
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