New Union-Owned Mortgage Company Now Serving New York's Working Families

NEW YORK, Sept. 23, 2019 /PRNewswire/ -- New York's 2.5 million union members have a new mortgage company on their side. Union Plus Mortgage Company, founded and owned by the labor movement, is now open for business in New York. It supports union members when they buy a home or refinance their current loan.

Union Plus Mortgage Company is owned by the AFL-CIO, Union Plus and a group of AFL-CIO affiliated unions to provide more mortgage options to union members, including access to the Union Plus Mortgage Assistance Program. The revenue generated by the company belongs to the labor movement.

"This is a great opportunity for union members and their families," said Mario Cilento, President of the New York State AFL-CIO. "Not only will our members be able to take advantage of competitive rate mortgages with added benefits, they will be supporting a union-owned company and keeping New York Union Strong."

Every union family that gets a Union Plus mortgage has access to: 

• The Union Plus Mortgage Assistance Program, which can help members make their mortgage payments in times of need;
• Competitive rates combined with exceptional customer service and sound financial guidance;
• A $500 gift card after closing; and
• Additional benefits for first-time homebuyers.

"Through the Union Plus Mortgage Company, New York's union families can now invest in New York's housing economy with help from a union-owned lender," said Vincent Alvarez, President of the New York City Central Labor Council, AFL-CIO. "New Yorkers are proud of our union city. Having our own mortgage company means union members can purchase and refinance homes and know that they're supporting our labor movement at the same time."

In its first two years of serving union members in 22 states (not including New York), Union Plus Mortgage Company has originated over $108 million in mortgages for union families.  A large majority of the loans closed are with first-time homebuyers.

"Veterans who purchase their home with Union Plus Mortgage Company are eligible for a $1000 veteran's grant," said Mitch Stevens, President of Union Plus. "The veteran's grant is another investment in union families and a core part of our mission at Union Plus – to improve the quality of life for working families."

Union members who have had a Union Plus mortgage loan for at least one year can benefit from the Union Plus Mortgage Assistance Program, which provides hardship mortgage assistance in the event of income loss due to disability, unemployment or strike/lockout.

New York's union families should visit unionplusmortgage.com or call 855 UNION 53 (855 864 6653).

Union Plus Mortgage Company was founded by the AFL-CIO to provide current and retired union members and their families mortgages through a union-controlled company.  Union Plus Mortgage Company is owned by the AFL-CIO, Union Privilege, and a group of unions.

SOURCE Union Plus

Related Links

unionplus.org