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Article: University group plans tilt toward mortgages. (University of Wisconsin Credit Union)
- Article from:
- American Banker
- Article date:
- July 15, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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University of Wisconsin Credit Union has begun a three-year push to make itself a player in the local mortgage market.
"We're small potatoes now, but we're going to get bigger," said Don Percy, president of the $267 million-asset institution.
Expecting to lose one of its main businesses to the federal government's direct student lending program, the Badger State's largest credit union is looking for new ways to make money.
"We need to replace those loans," Mr. Percy said.
As of May, student loans represented $60 million of the credit union's $207 million loan portfolio. It has the largest student loan portfolio of any credit union.
Mr. Percy is going to ...