The 98,000-member, $1.13 billion Partners Federal Credit Union says it inked a deal with the housing finance CUSO CU Realty Services in order to help it service what it calls a coming surge in demand for purchase money housing loans.
So-called purchase money loans are mortgage loans which go to purchase a new home versus housing loans that are refinanced. Many credit unions share the goal of increasing the percentage of purchase money loans in their housing finance program.
The Burbank, Calif., credit union serves the employees of the Walt Disney Company and their families around the country, including at Disney World in Florida.
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