Many people think of big banks when they think of mortgages. But did you know that credit unions do mortgage loans as well? We want to correct some common misconceptions about credit unions and mortgages.

“Even small banks tend to offer more mortgage products than credit unions do.”

For many credit unions, like Verity, the exact opposite is true. Verity offers a wide variety of mortgages including fixed-rate, jumbos, VA loans and low- and no-down payment mortgages. The best part is, almost all mortgages funded at Verity are serviced by Verity for the life of the loan. So not only do you have a wide variety of options, you pay just one financial institution for the life of your mortgage!

“Banks and mortgage brokers close mortgages quicker because they use automated underwriting processes.”

Many lenders, including credit unions, use an automated underwriting process to provide clients with a quick approval. That’s great, if you have a simple loan and perfect credit. However, if you have special circumstances regarding your loan, your property or your credit, those automated systems will either decline your application or forward your application to an underwriter.

That’s where credit unions come in! If a loan does not perfectly fit the criteria required by the automated underwriting process, we can still help. As a local financial cooperative that puts members first, we look at each situation individually to find ways to help each borrower.

“Credit union rates and fees cannot compete with the large banks.”

Credit unions are not-for-profit, so any revenue generated by the credit union is reinvested into the membership in the form of lower loan rates, higher deposit rates and lower fees. Because of this, many credit unions are able to offer rates that are as low, if not lower, than some larger for-profit financial institutions.

To learn more about mortgages at Verity Credit Union, visit

NMLS #456945


Kira Cox

Hi, I’m Kira. I joined Verity in early 2012 after a seven-year stint as a newspaper reporter. While I never thought my career path would veer off in this direction, I am loving my time at Verity. I recently moved from being a member services representative at the Alderwood Branch to being the marketing coordinator for the credit union.

I’m originally from Texas, but I have lived all over the country and the world, including Boston, Massachusetts, Anchorage, Alaska and Sydney, Australia. But in all my travels, the Pacific Northwest is the only place that has felt like home.

When not at work, I am usually home with playing with my son, husband, dog and three cats. During the rare times I don’t have a to-do list to plow through (and it’s not raining too hard), I can be found digging in the vegetable garden, training for a half-marathon, or grilling in the backyard.

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