Program designed to connect Native American families with home financing opportunities
NORWICH, CONN. – CorePlus Credit Union is excited to announce that it is now offering the HUD 184 Tribal Loan Program to support homeownership within Native American communities. This program, administered by the Department of Housing and Urban Development (HUD), is designed to provide Native American families with access to affordable home financing opportunities.
The HUD 184 Tribal Loan Program was established in 1992 to address the unique housing needs of Native American families. By participating in this program, CorePlus Credit Union is furthering its commitment to providing equitable financial services and empowering Native American individuals and families to achieve their dream of homeownership.
Key features of the HUD 184 Tribal Loan Program include:
- Lower Down Payment: Borrowers can benefit from a reduced down payment requirement – just 2.25 percent of the purchase price on loans over $50,000 and 1.25 percent on loans under $50,000.
- Competitive Interest Rates: The program offers competitive interest rates to ensure affordability.
- Flexible Eligibility: Eligibility criteria are designed to accommodate the specific needs of Native American communities.
“As a community-focused credit union, we are dedicated to supporting the economic well-being of the communities we serve,” said Ray Currier, Executive Vice President and Chief Operating Officer at CorePlus. “Our participation in the HUD 184 Tribal Loan Program aligns with our mission to provide financial solutions that help our members build a better future.”
Loans through the HUD 184 Tribal Loan program can be used to purchase an existing home, construct a new home, rehabilitate an existing home, purchase and rehabilitate an existing home, or refinance an existing mortgage. The loans can only be used for single-family homes and for a primary residence, ensuring that they are used to increase Native American homeownership and not for the purchase of a second home or investment property.
Borrowers must be currently enrolled in a federally recognized tribe, which includes the Mohegan Tribe and Mashantucket Pequot Tribe in Connecticut. The loans must be used in an eligible area, which in Connecticut includes New London County, Fairfield County, and Litchfield County.
For more information about the HUD 184 Tribal Loan Program and how CorePlus Credit Union can assist you in realizing your homeownership goals, please visit our website at coreplus.org or contact our CorePlus Credit Union branch at 860-886-0576.
About CorePlus Credit Union
CorePlus Credit Union is a federally chartered, member owned, not for profit cooperative. We are a not for profit, not for charity, but for service credit union founded in 1936. With a strong emphasis on community development and member well-being, CorePlus Credit Union is dedicated to creating financial wellness for all. For more information, visit coreplus.org.
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Skip the stress this season with Skip-A-Pay! Skip up to three* of your scheduled November, December, or January CorePlus loan payments. Whether you’re planning for holiday shopping, paying outstanding bills, or taking a vacation, use the cash your way with CPCU’s Skip-A-Pay!
*This offer is nontransferable. There is a processing fee of $30.00 for each skipped payment. Member must be in good standing. Cannot be used to resolve any past due status. Processing fee and signature required. Please allow 3 to 5 days for processing. Loan term is extended one month for each skipped payment and interest continues to accrue. Skipping payments on vehicle loans may affect your GAP coverage. Consult your GAP contract. Auto loans with terms over 84 months, Mortgage loans, Home Equity Line of Credit, Home Equity loans, Rapid Cash, SurePay, Smart E loan, And Money Line of Credit are excluded.
How to Participate in Skip-A-Pay
Mail Us the Form
Please click the button above to download the Skip-A-Pay form. Once filled out, mail the form to:
CorePlus Credit Union
202 Salem Turnpike
Norwich, CT 06360
Select the CorePlus loan you want to skip and email us at skipapay@coreplus.org** for access to our secure e-mail return service.
**Please do not email any confidential information without contacting CorePlus Credit Union first. Our Loan Servicing Department will initiate a secure e-mail return service to assist you.
Our representatives are ready to assist you. Call us today at 860-886-0576 or stop into any of our convenient locations!
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Call CorePlus Credit Union at 860-886-0576 if you have any questions.
Join us, in-person or virtually, as we host our 2023 Annual Meeting!
Event Details:
Date: Tuesday, May 23, 2023
Time: Meeting begins at 8:00 AM
Location: Norwich Branch Lobby – 202 Salem Tpke., Norwich, CT 06360
We kindly ask that both in-person attendees and those joining virtually RSVP by clicking the registration link below.
Click Here to Register for CPCU’s Annual Meeting
Click Here to View CPCU’s 2022 Annual Report
Dear client, We are excited to share some great news. Keith Noyes has joined our team as Sales Coordinator, bringing a fresh perspective to CorePlus Wealth Management. In this position he will support Holland, our financial advisor, and looks forward to helping all of you. We wanted to expand our team to provide the best service possible for you, and are thrilled that Keith joined as he will be a great fit for our team. To help you get to know Keith, here’s a quick glimpse into his background. Keith joined CorePlus Credit Union as a Credit Union Professional where he experienced multiple aspects of the banking industry as well as meeting CPCU’s wonderful members. Keith holds a B.B.A. in Finance from Radford University. During his time at Radford University, he became the President of a student-run portfolio where he was instrumental in growing the portfolio to over two million dollars. Keith is a first generation high school and college graduate and his goal is to help others gain financial literacy & independence. Besides his passion for finance, Keith is a skilled gamer who specializes in strategic games. Keith looks forward to meeting with you and helping you reach your financial goals. Keith is excited to join us and committed to providing you with the best possible service. If you’d like to welcome Keith directly, his email is knoyes@coreplus.org.
All of us at CorePlus Wealth Management look forward to serving you.
Best regards,
Financial Advisor
Click Here to View PDF
The CorePlus Wealth Management Services at CorePlus is staffed by Holland Rajaniemi, who can help you map out a personal financial management program.
To set a no-cost, no-obligation appointment, call Holland Rajaniemi at (860) 885-3680, or email at Holland.R@LPL.com.
Holland Rajaniemi
CorePlus Wealth Management Advisor
CorePlus Credit Union
202 Salem Turnpike
Norwich, CT, 06360
Dear Members,
Over the last five days the media has reported that two large U.S. Banks have been seized by regulators. Silicon Valley Bank (SVB) and Signature Bank are both ranked among the top 30 banks in the U.S. by asset size. We recognize that headlines concerning these bank failures are troublesome and that you may have questions regarding the safety of your deposits at CorePlus Federal Credit Union.
SVB and Signature Bank were niche banks that dealt almost exclusively with large business depositors that kept large balances well above FDIC insurance limits. SVB had 3% of its deposits covered by the FDIC while Signature had 6% covered. CorePlus is very different than these banks; 96% of our deposits are insured by the NCUA. CorePlus is financially strong. We are considered well capitalized by the NCUA and manage our balance sheet to ensure sufficient liquidity. In addition, CorePlus posts strong earnings quarter after quarter and maintains a healthy loan portfolio with low delinquency.
Understanding share insurance is important. Deposits are insured up to $250,000 per depositor by the NCUA. Members with more than $250,000 on deposit can be covered for much larger amounts of insurance if their accounts are titled properly. If you would like to discuss how to qualify for greater insurance limits, please call us at 860-886-0576 or stop by any branch office. You can also log into www.mycreditunion.gov and use the share insurance estimator to determine your insured level based on your balance and account structures.
If you would like to discuss your concerns with a member of our management team, please call us at 860-886-0576 and we will direct you to the proper person.
Sincerely,
Raymond J. Currier
Raymond J. Currier, EVP/COO
When you choose to bank with CorePlus, your deposits are safe. The National Credit Union Share Insurance Fund insures member funds up to $250,000 per individual depositor in federally insured credit unions, like CorePlus Credit Union.
To learn more about how your funds are protected, view the video below:
“Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to $250,000 per individual depositor. The National Credit Union Share Insurance Fund Insures member savings in federally insured credit unions, which account for about 98 percent of all credit unions in the United States. Deposits at all federal credit unions and the vast majority of state-chartered credit unions are covered by National Credit Union Share Insurance Fund protection, and not one penny of insured savings has ever been lost by a member of a federally insured credit union.”
[NCUAchannel]. (2015, November 30). NCUA Consumer Report: Share Insurance Account Ownership Types [Video]. Https://www.Youtube.com/@NCUAchannel. https://youtu.be/rfu5_xIVOlY
How Your Accounts are Federally Insured
Shred Days are back at CorePlus with three opportunities for you!
These events are held in partnership with Infoshred as a way to protect individuals from identity theft, a growing concern. You may bring personal documents, financial records, credit card statements, insurance forms, canceled checks, bank statements and tax preparation worksheets to be shredded. These events are open to the public – you do not need to be a Member to bring documents to be shredded. To serve as many people as possible, please limit your volume to 3 boxes.
Plainfield
Date: Saturday, April 8, 2023
Time: 9:00am to 12:00pm
Location: 67 Lathrop Road, Plainfield, CT 06374
During this event, we will be accepting toiletry, non-perishable food, and monetary donations for Project PIN.
Waterford
Date: Saturday, May 20, 2023
Time: 9:00am to 12:00pm
Location: 40 Boston Post Road, Waterford, CT 06385
During this event, we will be accepting monetary donations for Higher Edge.
Norwich
Date: Saturday, September 9, 2023
Time: 9:00am to 12:00pm
Location: 202 Salem Turnpike, Norwich, CT 06360
During this event, we will be accepting donations* for Wings of Freedom Animal Rescue.
*Please visit the following page for a list of donation needs: Wingsoffreedomanimalrescue.org/Donate
To keep our employees safe, we ask that you stay in your car at all times. Please open your trunk when you arrive and an Infoshred employee will remove the documents to be shredded.
On-Site Shredding, or Mobile Destruction, is for people who prefer their material be shredded prior to being removed from their facility.
Infoshred is the only vendor in New England to be certified by NAID for secure On-site Document Destruction. Infoshred offers confidential document shredding in Connecticut, Massachusetts, and Rhode Island.
Habitat for Humanity of Eastern Connecticut is now accepting applications for homes in Gales Ferry and Norwich only, between March 1-31, 2023.
Habitat for Humanity is a nonprofit organization whose mission is to help families build a place to call home. They believe affordable housing plays a critical role in strong and stable communities.
Learn more about Habitat for Humanity of Eastern Connecticut by visiting www.habitatect.org and be sure to click the button below to view Habitat for Humanity of Eastern Connecticut’s March Program Flyer!
Here’s what you should know prior to applying:
Prior to submitting a homeownership application please ensure that you are in Habitat for Humanity of Eastern Connecticut’s service area, which includes all of New London and Windham counties, and six southeast towns in Tolland County. Applicants are required to live in Habitat for Humanity of Eastern Connecticut’s service area. Visit www.habitatect.org/homeownership/service-area for a complete list of towns in the service area.
- Go to www.habitatect.org/homeownership to learn more about the program and eligibility requirements.
- Starting on March 1, 2023 you can click on the “Application” button on the website and begin the Applicant Information Meeting (AIM). After you watch the video and complete the survey, you can download a pre-qualification application.
- The deadline to attend the AIM and submit your completed application is the end of the day on March 31, 2023.Available homes are located in Gales Ferry and Norwich.
As active participants in the building process, eligible Habitat homebuyers are:
- In need of better housing.Potential homebuyers might be dealing with poorly made, unhealthy or inadequate housing; unaffordable rent; homes inaccessible for their disabilities or damaged by natural disasters; or have other shelter needs.
- Willing to partner with Habitat.Habitat homebuyers put in hundreds of hours of “sweat equity,” which means they help build their own home and the homes of others in the Habitat for Humanity house building program, or volunteer at a Habitat ReStore. These prerequisite hours may also include classes in personal finances, home maintenance and other relevant topics to help ensure capability for the demands of owning a home.
- Able to pay an affordable mortgage.The income requirements are based on HUD’s annual income levels and determine the applicant’s ability to afford a monthly mortgage payment and other costs associated with homeownership. Habitat and/or the USDA offers homebuyers an affordable mortgage. Those payments are then cycled back into the community to help build more affordable homes.
Habitat for Humanity of Eastern Connecticut has pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunities throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin
Our next Shred Day is:
Saturday, April 8
9 AM to 12 PM
Location:
67 Lathrop Road,
Plainfield, CT.
To keep our employees safe, we ask that you stay in your car at all times. Please open your trunk when you arrive and an Infoshred employee will remove the documents to be shredded.
On-Site Shredding, or Mobile Destruction, is for people who prefer their material be shredded prior to being removed from their facility.
Infoshred is the only vendor in New England to be certified by NAID for secure On-site Document Destruction. Infoshred offers confidential document shredding in Connecticut, Massachusetts, and Rhode Island.