CEFCU Participating In USDA's Loan Program
The $2.7-billion CEFCU has begun offering members the USDA Rural Housing Guarantee Loan program, an affordable program for home buyers that features loan amounts up to 100% of the appraised value and can include all closing costs. The USDA Rural Housing Guarantee Loan program is an available financing option for property located in areas designated by the USDA as rural. Benefits include a fixed payment over the 30-year term of the loan and a one-time guarantee fee instead of monthly private mortgage insurance payments.
Separately, CEFCU CEO Eldon Arnold has been named to the Thrift Institutions Advisory Council of the Federal Reserve. The purpose of TIAC is to provide first-hand advice from industry experts that have an important relationship with the Federal Reserve.