PO Box 990
Manchester, NH 03105-0990
(603) 669-4600
1-888-786-2791
 
For immediate release:
February 21, 2012
 
Contact:          Elizabeth Stodolski
                        (603) 629-1430
                        estodolski@stmarysbank.com
 
St. Mary’s Bank Recognized as Top Affordable Housing Lender
 
Manchester, NH—February 21, 2012—St. Mary’s Bank, the nation’s first credit union, was recently recognized by New Hampshire Housing Finance Authority as one of its top participating lenders for 2011.  Through the agency’s Single Family Mortgage Program, St. Mary’s Bank closed a significant number of loans to low- and moderate-income first-time home buyers over the past year.
“St. Mary’s Bank is pleased to be recognized as a leader in providing affordable financing to first-time home buyers,” said Karen Mayrand, St. Mary’s Bank Director of Residential Lending.  “We know how difficult it can be to pull together that first down payment, manage closing costs, and just navigate the home buying process in general.  Our cooperation with organizations like New Hampshire Housing Finance Authority helps us achieve our goal of making home ownership possible for more area families.”

New Hampshire Housing Finance Authority’s Single Family Mortgage Program provides affordable mortgage financing with low fixed interest rates, low down payment requirements and cash assistance grants to help borrowers with down payment and closing costs. Many two to four family homes are eligible under the program, as are manufactured homes (if on their own land or in an approved manufactured housing cooperative).  To qualify for the program, borrowers must meet certain income limits and purchase price limits.

About New Hampshire Housing Finance Authority
New Hampshire Housing Finance Authority is a self-supporting public benefit corporation. The Authority operates a number of programs designed to assist low- and moderate-income persons with obtaining housing. Since its inception, New Hampshire Housing has helped more than 38,500 families purchase their own homes and has been instrumental in financing the creation of more than 14,000 multi-family housing units. More information about its programs can be found on the agency's website at http://www.nhhfa.org/. 

About St. Mary’s Bank
Founded in Manchester, New Hampshire in 1908, St. Mary’s Bank is the nation’s first credit union.  As a not-for-profit, member-owned credit union, St. Mary’s Bank makes progressive financial products and services available and affordable to consumers and businesses. Members enjoy excellent service, competitive rates, low fees and state-of-the-art banking services.  Headquartered in Manchester,New Hampshire, St. Mary’s Bank has branches in Manchester,Hudson, Londonderry, Milford and Nashua. Call 1-888-786-2791 or visit www.stmarysbank.com for more information.