PRESS RELEASE: May 29, 2018 - Michael S. Ostrowski, President and CEO of Arrha Credit Union, congratulates Tony Sanches, Assistant Vice President of Retail Operations at Arrha Credit Union for receiving a Credit Union Rising Star Award at the Great New England Credit Union Show in Worcester.
Mortgage lenders in Massachusetts, worried that crumbling foundations would leave them holding paper on a worthless house, are telling their appraisers to pay special attention to foundations of homes built in the years a Connecticut concrete supplier used concrete tainted with pyrrhotite.
And at least one lender is considering mandating, if an appraiser finds the telltale cracks and crumbling of pyrrhotite-tainted concrete, that buyers have core samples removed from the foundation and tested to make sure the offending mineral is not present.
Although myths persist about what credit unions are, their leaders are cheered by statistics showing that 43% of Massachusetts residents belong to one. But they know members aren’t satisfied with mere messaging; they want the high-tech tools available at larger banks, melded with a culture of personal service. It’s a challenge they say they work hard to meet.
Michael Ostrowski has made a career in credit-union leadership, and the numbers startled even him.
Five $1,000 scholarships were awarded this year to worthy students based on scholastic merit and civic achievement.
Click here to read more about our winners.