Make Us Your Lender of Choice
CU Factory Built Lending (CUFBL) is the manufactured home lender's division of San Antonio Federal Credit Union (SACU). We began offering financial solutions to borrowers nationwide in 2002 to help meet the growing demand in the factory built home market. CU Factory Built Lending has its head quarters in San Antonio, Texas with loan origination offices in Seattle, Washington; Greensboro, North Carolina; Aurora, Colorado and St. Albans, Vermont.
CUFBL is backed by the full faith and financial strength of SACU. Our borrowers become members of an established and trusted financial institution with a current loan portfolio of almost $2.7 billion, deposits in excess of $2 billion and assets exceeding $2.9 billion.
Since we are a division of a Credit Union, we are a not-for-profit company and typically have some of the most competitive rates in the industry. We reward our customers with great service and financial solutions to help them achieve their goals. Be part of the credit union difference.
As part of the San Antonio Credit Union family, the staff at CU Factory Built Lending is committed to providing the best possible value to our customers and helping them achieve their financial goals.
Buying a home can be stressful, which is why we want you to leave the worrying to us. CU Factory Built Lending offers a variety of loan programs, so we are sure to have a loan option that fits your needs. We want to make the dream of home ownership easy to achieve.
There is no better time to enter the factory built home market then now!
Understanding the Credit Union Difference
A credit union is a financial cooperative where all members pool their assets, providing funds for loans to those in need within the membership. The members own the credit union, electing volunteer directors from among the membership. Credit unions are regulated either by federal or state law, depending upon the source from which the group receives its charter and their principal function of credit unions is to encourage savings and thrift and provide consumers credit at favorable interest rates.
So what makes a credit union different from a bank?
- Not-for-profit - Credit unions are not-for-profit financial cooperatives that exist to serve the members, not to make a profit. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to the members in the form of lower loan rates, higher interest on deposits, and lower fees.
- Taxation - Credit unions do pay taxes - payroll taxes, sales taxes, and property taxes. Congress exempts credit unions from federal income taxes. The exemption was established in 1937, affirmed by statute in 1951, and re-affirmed in 1998 in H.R. 1151, the Credit Union Membership Access Act, which states:
“Credit unions, unlike many other participants in the financial services market, are exempt from federal and most state taxes because credit unions are member-owned, democratically operated, not-for-profit organizations generally managed by volunteer boards of directors and because they have the specified mission of meeting the credit and savings needs of consumers, especially persons of modest means."
- Ownership - Credit unions are economic democracy. Each credit union member has equal ownership and one vote -- regardless of how much money a member has on deposit. At a credit union, every customer is both a member and an owner.
- Volunteer Boards - Each credit union is governed by a board of directors, elected by and from the credit union's membership. Board members serve voluntarily.
- Membership Eligibility - By current federal statute, credit unions cannot serve the general public. People qualify for a credit union membership through their employer, organizational affiliations like churches or social groups, or a community-chartered credit union.
- Financial Education for Members - Credit unions assist members to become better- educated consumers of financial services.
- Social Purpose: People Helping People - Credit unions exist to help people, not make a profit. The goal is to serve all members well, including those of modest means - every member counts. Credit unions serve their communities to strengthen the connection with members and improve the quality of life for those in need of financial services