CUs In Three States Latest To Join With Realtors

Credit unions in Alabama, Georgia, and Tennessee have become the latest nationwide to form a network to promote mortgage lending in conjunction with area Realtors and builders. The Southeast regional CUREN, or the Credit Union Real Estate Network, will offer networking and educational opportunities seeking to expand CU marketshare of mortgages. CUREN groups are already active in Southern and Northern California, the Mid-Atlantic area, Washington state, Texas, and Florida. "Credit unions have performed very well in the unprecedented refinance boom we've been in for the past two years, but once it ends, and it will end one day, it remains to be seen how we will do in the purchase-money market," said Bob Dorsa, executive director of the American CU Mortgage Association. United Guaranty Residential Insurance Co., a mortgage insurer, sponsored the initial planning meeting. Representatives of MAX FCU, Army Aviation Center FCU, Delta Employees CU; Lockheed Georgia Employees CU, CDC FCU; Atlanta Postal CU, ORNL FCU, and Eastman CU were on hand.