On behalf of all of us at Dort Federal Credit Union, Happy New Year!
I’d like to extend our sincerest thanks for your loyalty and trust in Dort Federal Credit Union. Looking back on the year, consumers saw some of the lowest rates in history on mortgages, new and used auto loans, and debt consolidations. In 2012, Dort Federal loaned over $42 million more to our members than in 2011. We ended 2012 with more than $324 million in total outstanding loans—a record for our credit union!
As for this year, we’re excited to continue our efforts making quality loans and delivering lending and savings products at competitive rates… and not just on the consumer side. Our business services department had an exceptional year! In addition to our business checking and savings accounts, we offer a variety of business loans including real estate, vacant land, and equipment. We’re proudly funding several business projects around the Greater Flint area from restaurants and apartment buildings to assisted living complexes. We’re equally as excited about our work with small business owners as we’ve funded several loans for landscaping start-ups, commercial vehicles, independent semi-truck owners, and heavy equipment. No matter how big or small the business lending needs, Dort Federal is proudly becoming the premier business lender in Genesee, Shiawassee, and Lapeer counties.
Our consumer mortgage growth is also breaking records. Thanks to the HARP II Refi-Plus mortgages that provide an excellent opportunity for members to refinance their mortgages at the low current rates, we were able to refinance 103 mortgages totaling more than $12.4 million. The savings to our members ranges from about $1,200 to upwards of $8,400 per year. Overall, in 2012 we closed 517 first mortgages totaling $53 million. Even more exciting than processing the loans is the thought of several hundred families in new homes in Michigan!
Looking forward, we’re eager to serve you in 2013. Our team of exceptional associates is committed to lending and helping our members lower their monthly costs. We love to loan … and refinance too! Let us take a look at what you’re paying other institutions and we’ll work to save you money.
Thank you for choosing Dort Federal Credit Union. We’re happy you’re here.