Is your credit union seeing any fallout from the problems in the subprime mortgage market, and what are your expectations for your credit union in the fourth quarter?
We have not seen any problems with mortgages.
Our lending numbers are off, but we are still seeing positive growth and expect that to continue in the fourth quarter.
We have not seen any problems. We are hoping for better membership growth in the fourth quarter-that's the item on the conference agenda we were interested in. We've been a community credit union for about six years, after having a single sponsor before.
No, because our mortgage program doesn't dabble in sub-primes. I have not heard of any of our members losing their houses, and we're usually the first ones they turn to when they need help. We need to maintain our loan growth. Also, we need to continue expanding our underserved areas. We need to mine underserved communities-that's our future.
Our credit union does not hold a lot of mortgages. We do the processing, then sell off the mortgage to lenders we work with. We have not heard about too many members losing their houses. In fact, we hear from people who believe they cannot get a mortgage, which is not true. Mortgages are available for people with good credit and finances that are in order.
This month we burst through $400 million in assets, which was our goal for the end of the year. We want to push forward and mine our members-we want to get more services per member.
