Forty-Year Mortgages Through YourCU

NEW BRIGHTON, Minn. - (08/24/04) -- CU Companies Inc., a CUSO owned by54 Minnesota credit unions, said its CU Mortgage Inc. subsidiary isnow offering a 40-year, fixed-rate mortgage. The 40-year loan willrequire a 5% down payment and will be offered at competitiveinterest rates. The longer amortization schedule will enableborrowers to increase their purchasing capacity by lowering monthlypayments.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER