Washington-based credit union works to foster a more racially and diverse mortgage professional community in the Pacific Northwest
TUKWILA, WASHINGTON, USA, September 20, 2021 /EINPresswire.com/ — The National Association of Minority Mortgage Bankers of America (NAMMBA) today announced it is partnering with BECU, Washington’s largest credit union, to help cultivate diversity, equity and inclusion within the workforce and promote sustainable homeownership in the communities they serve.
As a sponsor, BECU will work with NAMMBA and the Washington Mortgage Bankers Association (MBA) to increase membership in the Pacific Northwest and engage in initiatives that enable mortgage leaders, suppliers and employees to better serve the needs of underserved communities.
“NAMMBA is committed to fostering diversity and inclusion in other areas of financial services, and our partnership with BECU will help us achieve this goal in many ways,” said Tony Thompson, founder and CEO of NAAMBA, CMB. “Together, NAMMBA and BECU can drive meaningful change in the Puget Sound region and develop pathways for mortgage professionals to make positive contributions to their respective institutions.”
In addition to gaining access to a diverse and experienced talent pool of NAMMBA’s members, BECU will have the opportunity to work with NAMMBA to provide training, education and career development resources to the real estate finance industry. As a sponsor of NAMMBA’s Mission 2025, BECU will also help support introducing high school and college students to careers in the mortgage, real estate and housing industries and connect individuals with industry stakeholders, trainers and peers from across the country.
“Our sponsorship with NAMMBA is in line with BECU’s commitment to becoming a more equitable, diverse and inclusive cooperative, both internally and externally,” said Lorraine Stewart, senior vice president of Mortgage at BECU. “We are proud to work with an organization that holds shared values and invests in programs that will improve the financial well-being of our increasingly diverse communities for the long-term.”
According to NAMMBA, 75% of all first-time homebuyers over the next five years will be women, millennials or people of color. However, despite the country’s shrinking housing market, purchase mortgage opportunities are growing and changing at a significant rate. In fact, the three largest diverse borrower groups (Asians, African-Americans, and Hispanics) collectively generated more than $292 billion of purchase opportunity just last year, amounting to 24.2% of all purchase dollar opportunities.
The National Association of Minority Mortgage Bankers of America is a purpose-driven organization that is dedicated to the inclusion of minorities and women in the mortgage industry who are advocates for sustainable homeownership in local communities. To fulfill its mission, NAMMBA provides programs and initiatives to introduce minorities and women into the mortgage industry, including recruiting, advisory, networking and training for enterprises and individual professionals. For more information, visit http://www.nammba.org.
BECU is federally insured by NCUA. With more than 1.28 million members and more than $26.8 billion in assets, BECU is the largest not-for-profit credit union in Washington and one of the top five financial cooperatives in the country. As a member-owned credit union, BECU is focused on helping increase the financial well-being of its members and communities through better rates, fewer fees, community partnerships and financial education. The credit union currently operates more than 50 locations in Washington and two financial centers in South Carolina. For more information, visit www.becu.org.