KALAMAZOO, Mich.-Consumers CU here is participating in a program making grants of up to $5,000 available for first-time homebuyers.
The Michigan State Housing Development Authority (MSHDA)'s Homebuyer Assistance program is the result of the state allocating $15 million to the grant program, available on a first-come, first-served basis.
Non-military homebuyers are eligible to receive grants of up to $3,000 (not to exceed 25% of the purchase price) on a single-family, one-unit owner-occupied principal residence, while active military members and veterans can receive up to $5,000. Funds can be used with any first lien mortgage transaction, can be combined with MSHDA's Down Payment Assistance program, and have no income, asset or purchase price limits.
For info: http://www.michigan.gov/mshda/0,4641,7-141--291018--,00.html
Now On The Menu
$5K Reward From San Francisco FCU
SAN FRANCISCO-San Francisco FCU has kicked off its 2013 Financial Fitness Challenge and will award $5,000 to the winner.
Participating members must submit an application stating their financial goals for the year. Each member will complete those tasks throughout 2013, achieving goals and working toward the grand prize. Tasks include meeting with financial advisors, attending workshops hosted by the CU, credit review sessions and more. The deadline for submitting an application to participate is Feb. 28, and SFFCU will announce the grand prize winner on Dec. 18.
For info: www.sanfranciscofcu.org
Emergency Assistance Loans
LAUREL, Md.-Tower FCU here is offering an Emergency Assistance Loan to members still dealing with the effects of Hurricane Sandy. The loan is fixed at 7% for up to 60 months, and members can borrow up to $10,000 for a single applicant or $20,000 or joint applicants. Between Nov. 2 and Dec. 31, 2012, Tower has booked more than $145,000 of the loans, averaging $6,300 each.
International Travel Cards Offered
NORTH CHARLESTON, S.C.-South Carolina FCU now offers "International Travel Cards" that use EMV technology for members traveling overseas. The reloadable Visa cards use Chip & PIN technology rather than magnetic strips, and are available to members for $10 per card.
Winter WonderLoan Is Popular
SLIDELL, La.-St. Tamany FCU offered its 10th annual Winter WonderLoan, a pre-approved $1,000 loan at 17.95%. Members paid a $25 processing fee and had to agree to have $92 deducted from their direct deposit each month. More than 630 members borrowed $633,000 for the promotion. Total fee income was more than $15,000.
TDECU Expands To Houston
LAKE JACKSON, Texas-Following growth in indirect and merchant lending services, TDECU has expanded its footprint into the greater Houston area. Indirect lending at the CU was up by 48% during the first three quarters of 2012, while merchant lending rose by 33% to a balance of $26 million. The entry into the Houston market follows a merger with two area credit unions. More info: www.tdecu.org
Get Fit, Get to the Shore
WARMINSTER, Penn.-Freedom CU, located in the Philadelphia suburbs, is offering members the chance to get financially fit and win a week's vacation to the Jersey Shore. Members that close on a personal loan by Feb. 28 are automatically entered to win a week stay at the Montego Bay Resort in Wildwood, N.J. this summer.
