Turning Point Home Loan program recognized for innovation and community service
LATHRUP VILLAGE, Mich. – October 25, 2012 – Michigan First Credit Union received the statewide Louise Herring Philosophy-in-Action Member Service Award and an honorable mention (third place) at the national level for its efforts to promote homeownership through the Turning Point Home Loan program. The Michigan Credit Union League and the Credit Union National Association awards showcase the most innovative efforts to build communities through financial programs.
Launched in January 2012, Turning Point is an alternative for those who may not have previously met the terms of a traditional mortgage. As lending restrictions have tightened since 2008, some would-be borrowers face higher rates, while others may be denied altogether. This program targets those who can afford mortgages, but may have a blemish on their record, and seeks to get them the most affordable loan possible.
“We’re thrilled to be recognized for this innovative approach to lending and community outreach,” says the credit union’s President/CEO Michael Poulos. “It’s all part of Michigan First’s effort to focus on serving our members—finding ways to support them and meet their needs.”
The Herring Award winners, selected to embody the cooperative credit union philosophy, are chosen annually from among the more than 300 credit unions in Michigan and the more than 7,500 nationwide. Visit MichiganFirst.com/TurningPoint to learn more about the program.
About Michigan First Credit Union
Founded in 1926 by a small group of Detroit teachers, Lathrup Village-?based Michigan First Credit Union (MichiganFirst.com) has grown into a more than $625 million financial institution serving more than 87,000 individuals and local businesses in Wayne, Oakland and Macomb counties. An industry leader in consumer?focused technology and dedicated customer service, the credit union is also significant supporter of local financial education and community organizations through the Michigan First Foundation, which donates $100,000 to more than 75 local nonprofits each year. For the latest news, and events, Follow Michigan First on Twitter at http://www.Twitter.com/MichiganFirstCU or “Like” Michigan First on Facebook http://www.Facebook.com/MichiganFirstCreditUnion.
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