WASHINGTON – The Treasury Department said it has approved two credit unions, Wescom Central CU and Technology CU, to its mortgage relief program.
Treasury has approved 23 firms to its Making Homes Affordable program which will provide funding to refinance troubled mortgages.
Treasury also said yesterday that Hartford Financial Services Group Inc. has become the first among a group of six major life insurers to get assistance from the Troubled Asset Relief Program. The program will make $700 billion in financial assistance available for banks, savings and loans and insurers, but none for credit unions.
Treasury announced it will provide $3.4 billion in support Hartford, as well as $226 million to 15 smaller banks, making a total of $203.2 billion in TARP funds outstanding.
