For Immediate Release
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March 23, 2012
Local Contact: Jordan Masi
Arizona State Credit Union
Telephone (602) 467-4133
jMarketing@azstcu.org

Arizona State Credit Union Helps Underwater Homeowners Refinance

Credit Union offers Home Affordable Refinance Program

PHOENIX, Ariz. - Arizona State Credit Union has accepted 167 applications for the Home Affordable Refinance Program (HARP) in its quest to help underwater homeowners obtain more affordable mortgages.

Homeowners who are current on their Fannie Mae mortgage and have been unable to obtain traditional refinances because the values of their homes have declined may be eligible for HARP.

"If members can benefit from a lower mortgage payment, then we, as a local financial cooperative, need to meet this need," said David E. Doss, President/CEO of Arizona State Credit Union. "The opportunity to offer HARP is significant to the Credit Union as it can help Arizona residents rebound from economically challenging times."

HARP has been extended by the Federal Housing Finance Agency to help eligible homeowners refinance their mortgages to take advantage of today's historically low interest rates, even if the outstanding balance of the mortgage is greater than the value of the home.

Those interested in learning more or applying for HARP are encouraged to contact Arizona State Credit Union at 855.505.HOME or azstcu.org/harp.

About Arizona State Credit Union
Arizona State Credit Union is a $1.3 billion full-service, not-for-profit financial cooperative with a statewide branch network serving the people of Arizona. More than 128,000 Arizonans turn to Arizona State Credit Union for outstanding service and value. Arizona State Credit Union has grown dramatically since its founding in 1951, providing a full line of financial products and services at 21 branches across the state. More than 60 years of excellence and outstanding customer service have helped the Credit Union become a six-time winner of Arizona Business Magazine's Ranking Arizona and a four-time recipient of the Peter Barron Stark & Associates Award for Workplace ExcellenceTM. Arizona State Credit Union is headquartered in Phoenix and welcomes membership from businesses and individuals throughout the state. Reach us at 800.671.1098 or visit us at www.azstcu.org.

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2355 W. Pinnacle Peak Rd.
Phoenix, AZ 85027
1-800-671-1098