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2020 Annual Report: People Helping People

Home Loans: Record Growth

Diane Kapuranis, Vice President of LendingIn 2020, people began to see their home as more than just a place to live – it became their office, schoolroom, entertainment venue, and shelter during a national health crisis. Fueled by incredible interest rates, home sales spiked across the U.S. as families realized they needed more space.

Following these national trends, SLFCU members financed new homes with us or refinanced their current loans in record numbers. We recorded more than $222.45 million in new home loan originations in 2020.

HOME loans by the numbers: $222,453,957: Total dollar amount of home loans  originated in 2020

Our Mortgage team worked tirelessly to assist members in their pursuit of the American dream, helping many renters to open the door to home ownership. First-time buyers took advantage of SLFCU’s great rates and program for first-timers that offers a low 3% down payment with no private mortgage insurance requirement.

To make their homes more enjoyable and functional (maybe to get that home office or gym into shape), many members also did a cash-out loan refinance to get ready cash for remodeling, repairs, and other improvements.

“Although 2020 was a year of change and challenges for many, our members know that one thing will always be true: SLFCU is there for them,” says Diane Kapuranis, Vice President of Lending. “Members can count on us for unsurpassed service, value, and convenience for all of their financial needs.”

Return to the 2020 Annual Report