Arlington, VA (August 7, 2012) National Cooperative Bank (NCB), a leading financial services company dedicated to serving cooperatives nationwide, originated over $150 million in new loans for 626 residential unit owners by the end of the second quarter 2012.
“The first half of 2012 was exceptional with regards to the Bank’s residential loan origination activity—doubling the amount of financing arranged during the same period last year,” said Chris Goettke, NCB’s Director of Residential Lending. “With interest rates at historic lows, we are experiencing a large increase in refinancing and new home purchases lending nationwide, and are pleased to remain a dependable and constant source of funding for these consumers.”
Lending activity highlights around the country include $66.7 million for residents on the West Coast; $58.6 million for the New York cooperative market; $16.4 million in new loan originations in the DC Metropolitan area; and $5.6 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. 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. NCB is a proud supporter of the 2012 International Year of Cooperatives – a United Nations declaration and global campaign to educate the public about the benefits of cooperatives. “Cooperative enterprises build a better world” is the official slogan of The International Year of Cooperatives, and NCB is doing its part to build awareness of cooperatives in all fields of business.