Senator Cites CUs' Affordable MortgageInitiative

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WASHINGTON - (02/28/05) -- Sen. Hillary Clinton last weekpraised efforts by New York credit unions to raise more than $160million to fund affordable mortgages in New York. "I have alwaysbeen aware of the great potential for New York's credit unions toserve their communities," said Sen. Clinton last week. "I am sopleased to be a part of this unprecedented efforts by New York'scredit unions." Five New York credit unions pledged to create apool of $100 million in affordable housing funds to Sen. Clintonduring last fall's NCUA PALs conference in Rochester, N.Y. Sincethen, as many as 25 other New York credit unions have joined theinitiative, pledging a total of $160 million for mortgage loans andemergency housing assistance in underserved areas of New York. Thesponsoring credit unions, which have pledged a total of $75million, are: The Summit FCU, Bethpage FCU, Sunmark FCU, FirstSource FCU and Visions FCU.

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