credit unions and mortgage

credit unions also are a form of thrift, with over 11,000 operating in the united states. their charters restrict them to serving a group of people who can show a common bond such as employees of corporation, government unit,labor union,or trade association.In years past,credit union played only a marginal role in home mortgage lending. However,they have been able to expand the definition of their "common bond" of membership in recent years,enabling many to grow considerably in size and diversity of services. This has brought them to greater activity in home mortgage lending. Most credit union today can offer home mortgage loans and home equity credit lines. However, their role is likely to be as a mortgage broker (discussed below) rather than as traditional depository lender. Altogether,their share of total home mortgage lending appears to remain around 3 percent.