Had it not been for Mendo Lake Credit Union's willingness to give a member a discounted rate on an older RV loan, she may not have had a place to live after losing her home in the Valley Fire during California's 2015 wildfire season. She now plans to live in the RV until her home is rebuilt.
When another member with poor credit tragically lost her daughter in a fire, MLCU staff got creative in getting her the money she needed to cover final expenses for her child. Since then, the member has taken out a number of loans at the credit union and significantly improved her credit.
Two other members, an older couple who lost many of their assets in the stock market crash of 2008, managed to stay in their home until the husband's death after MLCU made a workout loan arrangement on their mortgage. The widow has since sold the house.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.