Arlington, VA (July 26, 2011) — NCB, FSB, (NCB) a federally chartered savings bank, committed to serving cooperatives nationwide originated over $77 million in new loans for 356 residential unit owners by the end of the second quarter 2011.
“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. We are pleased to remain a dependable and constant source of funding for these consumers,” said Chris Goettke, NCB’s Director of Residential Lending. “For more than 30 years we have provided tailored lending packages to the cooperative housing market. Our ability to create lending solutions to meet an individual borrower’s needs—often when many other institutions can’t—enables us to continue arranging loans for homeowners across the country, even in today’s challenging lending environment.”
Lending activity highlights around the country include $42 million for residents on the West Coast; $19.6 million for the New York cooperative market; $6.3 million in new loan originations in the DC Metropolitan area; and $8.8 million to cooperatives located in other markets throughout the US.
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. National Cooperative Bank on Facebook, or on Twitter at coopbanking.
The NCB Financial Group consists of the Congressionally-chartered National Consumer Cooperative Bank (NCCB) and NCB, FSB, a federally insured savings bank wholly owned by NCCB. The NCB Financial Group provides financial products and services for the nation's cooperatives, their members, and socially responsible organizations.
The NCB Financial Group also works in a strategic alliance with NCB Capital Impact, a non-profit Community Development Financial Institution created under the same act of Congress as NCCB with particular focus on impacting low and moderate income communities.