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Loan Purchasing CharlieMac, is a ready purchaser of credit union loan portfolios, making it a valuable source for liquidity. CharlieMac, a corporate CUSO, works as a liquidity facility by purchasing credit union whole loans while providing credit unions the opportunity to achieve efficient, investment-grade pricing. Selling whole loans to CharlieMac allows the credit union to maintain its member relationships. CharlieMac helps credit unions meet their members' loan demands and keep the loan relationships with the people they know. The Corporate Network created CharlieMac in 1998 to provide credit unions a unique source of liquidity. CharlieMacpurchases loans such as mortgages and auto loans from credit unions and holds them until an efficient size is reached to securitize or sell in the secondary market. As the Corporate Network's first program aimed at funding credit union loans through the capital markets, CharlieMac serves the liquidity needs of credit unions by providing three key benefits:
CharlieMac represents a significant step toward a nationwide Corporate Network system that equips credit unions to meet their members' liquidity needs. By selling loans to CharlieMac, credit unions have the liquidity they need to focus on their core business: making new loans. Want to know more? For more information about CharlieMac go to www.charliemac.org, or call Doug Wolf at 800/852-2677. |