PCCU Fine For Now
I was just in Provident Central Credit Union at the Eureka Mall to make a deposit. With all the financial news of late, I figured I'd ask about home loans.
I asked the gal if she could set me up with a home loan. She said, "Sure. Do you really want one?". I asked her if the credit union wasn't having problems with all the banks falling apart over the mortgage fiasco. She said the credit union was fairly picky and didn't do "what they wanted us to do when everyone else was doing it...", or some such.
I asked who she meant by "they", thinking it must be the bigger banks. She said she was referring to all the people who wanted loans but couldn't afford them. They wouldn't loan money to them and so this banking crisis doesn't really affect them, or so she's saying.
Of course, she's just a customer service representative and might not be seeing the whole picture and maybe it will take a while for this Fannie and Freddie thing to roll down to the smaller banks and credit unions? Maybe they'll weather the storm as she suggests. I don't know.
Next time you go to your bank or credit union, ask about getting a home loan and see what they say. I actually felt pretty good hearing her say our credit union wasn't having any problems.