WASHINGTON (11/4/13)--A NASA FCU executive predicted that the institution's commercial real estate (CRE) loan portfolio will grow between 30% and 35% this year. And he gave seven reasons why people should get their CREs from a credit union.
Andy Stafford, the Bowie, Md.-based credit union's director of commercial real estate, made the prediction in the publication GlobeSt.com (Nov. 1).
Stafford laid out seven reasons why he thinks NASA FCU is seeing a steady increase in its CRE portfolio--in 2011 and 2012, it grew by 16% and 23% respectively.
He told the publication the credit union offers simple service, with one point of contact for borrowers. It also offers competitive rates and doesn't charge prepayment penalties for refinancing.
NASA FCU has deep community ties and obligations that allow it to avoid defaults by leveraging knowledge and by catering to businesses' needs, he said.
Stafford added that NASA FCU is straightforward about its credit products, allowing it to close loans in under two months, and said that because credit unions are accountable to members instead of shareholders, the institutions are more attractive to consumers.
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