100 Mile Mortgage
NDCU’s 100 Mile Mortgage comes with
- exceptional service
- competitive rates
- commitment to community: profits are reinvested back to our members and to our successful Community Investment Program
The phrase “What goes around comes around” is never as true as it is now with local economies and our personal finances. Most communities, including ours, may not have difficulty attracting new money, but it is how we, as citizens, businesses and governments, use that money that needs attention. Too often, money is lost from the local economy when goods or services are bought from outside our communities. Where and how you spend your money is vital; however, it is equally important at the next level where those people and businesses spend the money that they receive from your transactions.
How connected is our local economy? Where is most of our community’s money spent? Individually, we can examine our monthly budgets to see where we spend most of our money and how it interacts in our community.
Commonly, one of the largest expenses in a family’s budget is the mortgage. Our Credit Union can assist in keeping this investment local. Over the first five years of a mortgage amortized over 25 years, a family borrowing $200,000 could be paying over $40,000 in interest. Certainly most residents would want that kind of money to remain in our community!
The local economy is the interconnection of many parts, and how we spend our money as a community can have a positive effect on our economic vitality and long-term growth. Each one of us can make a difference!
Our 100 Mile Mortgage program seeks to help our community retain its money by circulating it locally. Logically, our preference is to invest our members’ deposits in our community. We therefore welcome the opportunity to handle your mortgage, as well as your other borrowing requests.
Whether seeking a new mortgage or renewing an existing one, please contact one of our mortgage specialists. For more information, Contact Us.