You may be surprised to hear that many credit unions are promoting "non-traditional" loans in fairly traditional ways: through in-branch signage, newsletter articles, press releases sent to local media and even one-on-one conversations with current or potential members. St Paul MN-based Affinity Plus Federal Credit Union, with $1.2 billion in assets and 126,000 members, has done all of the above and more in an attempt to spread the word about its recent partnership with zone of possible agreement (ZOPA), the new kid on the social finance scene. In 2005, Barbara Cunningham said she and her colleagues at St Mary's Bank started hearing rumblings about reverse mortgages-loans available to seniors, used to release the equity in a home as one Limp sum or multiple payments. The staff at $1.6 billion Kern Schools Federal Credit Union, Bakersfield, CA, has been trying to educate its members about an equally important issue over the last few years: the pickle that is subprime lending.
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