WESTconsin Credit Union Named Platinum Million Dollar Lender

Posted: July 30, 2015

LOCAL LENDER RECEIVES USDA RURAL DEVELOPMENT AWARD

WESTconsin Credit Union Named Platinum Million Dollar Lender

WESTERN WI - USDA Rural Development State Director, Stan Gruszynski, named WESTconsin Credit Union as a recipient of the 2014 Platinum Million Dollar Lender Award.

The Award is presented each year to lenders who have partnered with, and made a significant contribution to, supporting Wisconsin rural residents looking to become homeowners through the USDA Guaranteed Rural Housing (GRH) Program.

In fiscal year 2014, WESTconsin Credit Union utilized more than $5 million of GRH program funds by financing home purchases to help moderate income families in Wisconsin. Nearly 3,300 families across Wisconsin were able to purchase a home last year through the GRH loan program, totaling nearly $414.6 million.

“Working with our lending partners across the state, we’ve made a difference to those rural families prepared to realize the responsibility and benefits of owning a home,” said Gruszynski. “The last several years have been challenging for homebuyers in rural communities. By partnering with local lenders we are able to leverage our resources and overcome financial barriers in order to help rural communities move forward.” “We value our partnership with WESTconsin Credit Union,” he added, “and commend their achievement and contributions to meeting rural housing goals for Wisconsin.”

The Million Dollar Lender Award is given at three levels Silver, Gold, and Platinum, based on the total amount of funding utilized by the lender; Silver level disbursed more than $1 million, Gold level disbursed more than $2 million, and Platinum level disbursed more than $5 million during the past year. This is the fourth consecutive year that WESTconsin Credit Union has reached this level of production.

About the Guaranteed Housing Program
The GRH program assists homebuyers in obtaining a 30-year fixed rate mortgage without the down payment typically required by conventional lenders and programs. GRH loans are financed through participating lenders, such as banks and credit unions, and are guaranteed by USDA Rural Development. The amount of the mortgage is limited by the applicant’s repayment ability and can be made for up to 100 percent of the appraised value. There are no restrictions on the size or design of the home. Loan closing costs and repairs can often be financed with the home purchase. Eligible areas include rural regions and communities under 20,000 in population, and not part of a larger urban area.

Further information on programs available through USDA Rural Development is available by contacting any Rural Development office, (715) 345-7620, or visiting the agency's web site rurdev.usda.gov.

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