Feeling 40, Just Not Often

Register now

CUNA Credit Union's Christine Haroldson said the $325-million CU was the first in Madison to introduce a 40-year mortgage when it did so on March 1. While it achieved great publicity with local media coverage that helped to generate some 4,500 phone calls, it has actually made four such loans since launch. (Haroldson noted that many of those callers turned to different mortgage loan products. Another person in the room from a New Mexico CU said it has done no 40-year mortgages in the 18 months the product has been available.

For reprint and licensing requests for this article, click here.