Credit unions did not create the foreclosure crisis, but they can be an important part of the solution for their members. Industry statistics tell us that most credit union members who are homeowners have their mortgage loans with other lenders. Nevertheless, members often have more faith and trust in their credit union than in any other financial institution, and are more likely to turn to their credit union for advice, counsel and assistance – particularly in tough times.

Credit unions now have a unique opportunity to help members who may be at risk of foreclosure, regardless of who holds the mortgage. Knowing this, The Federation, National Credit Union Foundation, and the League of Southeastern Credit Unions will be presenting foreclosure prevention workshop in Miami on September 14th for credit unions in Florida that will focus on:

• Identify members who may be at risk of foreclosure

• Help these members to avoid scams and predatory traps

• Offer financial products that will reduce the risk of foreclosure for members and losses for the credit union

• Connect members to responsible counseling and other services early enough to obtain the best possible outcome

The workshop is designed to provide credit unions with tools they can use to help their members, and also to gather feedback on the challenges facing credit unions and their members in today’s economy. If you're interested in attending this workshop, please contact Amber R. Tynan at amber.tynan@lscu.coop.