Arlington, VA (September 1, 2010) — NCB, FSB, a federally chartered savings bank, originated over $26 million in new loans for 186 residential unit owners during the second quarter of 2010. As many consumers struggle to find available credit, NCB, FSB continues to remain an important source of real estate financing for the cooperative sector nationwide.
“With the residential real estate market seeing signs of improvement the biggest obstacle still facing buyers is the lack of available financing to purchase homes or refinance existing debt. At NCB, FSB we are pleased to be a dependable and constant source of funding for these consumers,” said Chris Goettke, Director of Residential Lending. “For more than 30 years we have provided tailored lending packages to the cooperative market. Our ability to create lending solutions that meet an individual borrower’s needs—often when many other institutions can’t—has enabled us to continue to arrange loans for homeowners across the country, even in today’s challenging lending environment.”
Lending activity highlights around the country for the second quarter include $11.2 million for the West Coast cooperative housing market, $8.2 million for the New York market and $3.8 million in new loan originations in the DC Metropolitan area.
NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop.
NCB Financial Group (NCB) consists of National Consumer Cooperative Bank, a federally chartered cooperative corporation; its wholly-owned subsidiary NCB, FSB, a federally chartered savings bank; and, NCB Capital Impact, a 501(c)3 nonprofit affiliate. Loans and other financial services are provided by NCB, FSB and NCB Capital Impact. Deposit products and services are provided by NCB, FSB, which is a member FDIC. Each is a separate corporation within the NCB Financial Group.