Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
RCU acquires mortgages from The RiverBank
EAU CLAIRE, Wis. (10/12/11)--Royal CU (RCU), based Eau Claire, Wis. with $1.2 billion in assets, and The RiverBank, Osceola Wis., have entered into an agreement for RCU to acquire the servicing rights of The RiverBanks’ $600 million in mortgage loans. The transaction, which is expected to be finalized Monday, adds about 4,200 mortgage loan members to RCU. “We welcome these 4,200 mortgage customers to RCU,” said Charles Grossklaus, RCU CEO. “Our commitment to staying local is strong and, consistent with our vision to satisfy all of our members’ financial needs; we look forward to building relationships with these members so we can be there when they need their next financial product.” In a letter to its customers The RiverBank said, “We have now come to a turning point in our business model that we need to make a change. Realizing the importance of the local servicing, we have partnered with RCU to transition the servicing.” The transfer of the servicing of the mortgage loan does not affect any term or condition of the mortgages.


RSS





print
News Now LiveWire
20 breakout sessions available at @CUNA's April lending school #creditunions http://t.co/eTK0fVO0RK
20 minutes ago
.@CoreLogicInc: Jan. home prices jump nearly 6% annually #Market #NewsNow http://t.co/DoDtHhjvaw
1 hour ago
CU Effect: @StLouisComm collaborates to save homes with FHLB grant #NewsNow http://t.co/fxX8EhouUj
7 hours ago
#NewsNow March 31 deadline for Biz Kid$ fin. ed grant application http://t.co/5AD5ZYPLEU
8 hours ago
.@CUNA sends letters on @RepAndyBarr QM bill, @RepMickMulvaney @NCUA budget transparency bill #NewsNow http://t.co/cRAk46ALeD
9 hours ago