The current crisis in national and local housing markets has drawn an unprecedented response from financial institutions and the federal government. As the situation changes rapidly from week-to-week, and sometimes hour-to-hour, credit unions will be challenged to keep up with the most essential information and resources for their staff and for their members.
This page is updated regularly with important links and information for your staff and your members. If you have comments or questions about the information on this page, please contact Terry Ratigan at the Federation.
The Federal Trade Commission (FTC) has produced a 3-minute video, in English and Spanish, to help consumers avoid scams and find the help they need. The video can be downloaded, incorporated credit union websites, shown during educational workshops, or made available for members to view at credit union branch locations.
To download the HTML code to embed this video on your website, in English or Spanish, please click here.
Right At Home: Financial Answers for Homeownership, is a website with a wealth of credit union resources that can help your members to become and remain successful homeowners. The site includes tools that can be downloaded, video clips, and marketing resources for consumers. Right At Home was developed by the Michigan Credit Union League with support from the National Credit Union Foundation.
The Federation has assembled a package of full-color flyers, in English and Spanish, with clear information to help your members avoid foreclosure rescue scams. These flyers have been produced by federal agencies and may be reproduced and posted on your website for free.
Falling housing prices offer new opportunities for first-time homebuyers. The American Recovery and Reinvestment Act included a fully refundable First-Time Homebuyer Tax Credit. Under the new law, qualifying taxpayers who buy a home between April 8, 2008 and December 1, 2009 may be eligible for a credit of up to $8,000.