Broomall, PA (PRWEB) September 19, 2012
Credit Unions across the Mid-Atlantic are participating in the recent loan growth by using lending strategies delivered by State Financial Network. State Financial Network, Inc. is a Credit Union Service Organization (CUSO) serving credit union partners in New Jersey, Pennsylvania, Delaware and Maryland.
Credit Unions are benefiting from the turmoil experienced at big commercial banks and mortgage brokers. Members of credit unions are increasingly turning to their credit union, a source they trust, for home mortgage financing. An organization such as State Financial Network, Inc. with over twenty-six years experience, is well placed to guide partner credit unions to increase their real estate loan portfolio, and gain access to the secondary market for loans, and products, not right for portfolio.
Credit unions, partnering with State Financial Network, Inc., often portfolio adjustable rate products and sell fixed rate products, to manage their interest rate risk. Key for credit unions is to safely and effectively provide the products their members are demanding. However, while meeting the demands of the credit union members, a credit union does not need to tie up its lending portfolio with low rate, long term, fixed rate loans. Selling fixed rate mortgages into the secondary market is a must to meet this goal. The significant 29% increase in loan volume in 2012 indicates the successfulness credit unions are experiencing using this strategy.
David MacMillan, Vice President of State Financial Network, Inc. hears a common declaration from its credit union partners. The word from the credit union C.E.O is, “We need to have long term fixed rate loans available for our members at market interest rates. Today’s fixed rates are too low for the credit union to portfolio. Regulators just don’t want us to do it. SFN gives us an answer”
MacMillan says, “It’s a great time to be a credit union member. With help from State Financial Network, Inc. the members can look towards their credit union for their home financing solutions”.