Security Service FCU FundsModerate-Income Mortgages

June 11, 2004, 1:00 a.m. EDT 1 Min Read

SAN ANTONIO, Texas - (06/11/04) -- Security Service FCU said it iscommitting $10 million to a program to help families of modestmeans purchase homes. The credit union has entered into apartnership with Neighborhood Housing Services (NHS) to help thosefamilies qualify for the mortgages. The program, a first for NHS,will enable it to offer a portfolio first mortgage loan producttailored to San Antonio borrowers, providing them with a locallender relationship for the life of the loan. In addition to the$10-million commitment to the program, Security Service has made a$10,000 cash donation to help fund homeowner education and overalloperations.

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

MORE FROM AMERICAN BANKER

Monetary policy

The Fed can ignore Trump — but markets are listening

The president and his allies have stepped up their verbal attacks on the Federal Reserve and its chairman in recent weeks, and while the tough talk has not changed policy, it has sent a clear message to the financial sector.

By Kyle Campbell

9m ago
Cryptocurrency

Erebor's charter bid rides wave of fintech-friendly policy

Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.

By Ebrima Santos Sanneh

July 2
Regulating Crypto

Ripple joins other crypto firms seeking trust bank charters

The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.

By Penny Crosman

July 2
Regulation and compliance

NCUA sets high bar for criminal referrals after Trump order

The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.

By Nathan Place

July 2
Fraud

Bank groups encourage Treasury switch to digital payments

Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.

By Melinda Huspen

July 2
M&A

Louisiana bank to enter Dallas with its second Texas deal

Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.

By John Reosti

July 2