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NCB Arranges $118 Million in New Loan Originations for Residential Properties Through the Third Quarter 2011

Arlington, VA  (December 5, 2011) — NCB, FSB (NCB),  a federally chartered savings bank, committed to serving cooperatives nationwide originated $118 million in new loans for 542 residential unit owners across the country by the end of the third quarter 2011. 

“As the housing market continues to strengthen, with properties trading more readily, NCB is proud to be a dependable and consistent financing option for buyers nationwide,” said Chris Goettke, NCB’s Director of Residential Lending. “We attribute our ongoing success in this sector to the Bank’s ability to provide competitive financing packages, tailored to a consumer’s individual needs.”

Lending activity throughout the country remained strong during this period. On the West Coast, NCB arranged financing totaling $63 million for cooperatives and Tenant-in-Common (TIC) properties. While not traditional cooperatives, TICs share the cooperative principles when it comes to financing and other aspects of ownership. On the East coast, the Bank secured $30 million in financing for New York region cooperative shareholders and $11.5 million in new loan originations in the DC Metropolitan area. An additional $14 million of financing was originated for homeowners 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.