Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Renaissance CDCU is only FHA lender in New Jersey
SOMERSET, N.J. (7/22/08)--Renaissance Community Development CU (RCDCU) has been approved by the U.S. Department of Housing and Urban Development (HUD) as the only Federal Housing Administration-approved community development credit union lender in the state. RCDCU Board President Shirley Spruill made the announcement Monday. “With so many small credit unions closing or merging, it’s a good feeling to know that just because you are considered small based on your asset size, that with determination and the will to succeed, you can,” Spruill said. “The key to survival for small credit unions is to drop the fear of ‘we can’t because of our size’ and offer products and services that meet the needs of our members,” she added. RCDCU is a member of the National Federation of Community Development Credit Unions. The credit union has $801,014 in assets. HUD must approve all lenders that offer FHA-backed mortgages. Through the FHA program, borrowers within minimum credit scores of 520 can qualify for mortgage insurance, make lower down payments with assistance from grants. FHA currently insures about five million mortgages.


RSS print
News Now LiveWire
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
12 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
14 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
14 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
16 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
16 hours ago