Coindexter Launched at GOCU
ATLANTA-Georgia's Own CU here has launched Coindexter (Coindexter.com), a program from Applause Learning that works to teach financial literacy to children ages 12 and younger. Coindexter immerses children in a virtual world ("Econopolis") where they earn, save, spend, and manage and invest money.
Coindexter places the sponsoring CU's building on the site with its name above the front entrance, and children's avatars can "virtually" enter the building to do their virtual banking. Participants even utilize deposit and withdrawal slips, checks and more.
More info: www.coindexter.com.
Investment Services Offered
SAN JOSE, Calif.-San Jose CU here has partnered with CU Financial Partners LLC to provide financial and investment planning services to members. CU Financial Partners offers a services such as retirement planning, insurance, investments and member education, and initial consultations are free for members. CUFP representatives will meet with members at branch offices or at the member's home. Monthly member seminars are also sponsored.
CU Financial Partners, LLC is a branch of Foothill Securities, Inc. San Jose CU serves more than 12,000 members with more than $130 million in assets.
FHA Mortgages Now Available
GROTON, Conn.-Members at Charter Oak FCU here can now apply for FHA mortgages up to 96.5% of the home's value on purchases and 97.75% LTV for refis with 15- to 30-year terms. COFCU touts itself as "Eastern Connecticut's No. 1 Mortgage Lender," and its fixed-rate loans are available for owner-occupied, 1-4 family homes in New London or Windham Counties.
CEO Brian Orenstein said Charter Oak added FHA loans in order to make home-ownership more accessible to a greater percentage of its overall membership. The credit union is also now an approved SBA lender, offering SBA 7a, 504 and Express loans to business owners in New London and Windham Counties.
Charter Oak serves more than 66,000 members with $702 million in assets. As of its December 2011 Call Report, the CU had approximately 4,400 mortgages and real estate loans on its books, totaling about $400 million.
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