- By Luke Whittaker, email@example.com
- Published in the Coast River Business Journal on August 5, 2016 2:01PM
- Read the full article: http://www.dailyastorian.com/CRBJ/20160805/purchasing-a-home-in-pacific-county-mortgage-origination-office-offers-lending-avenues
LONG BEACH — Pacific County residents looking to purchase real estate will have a new financing option on the Peninsula in September. Wauna Credit Union, based in Clatskanie, is opening a Mortgage Origination Office at 910 Pacific Avenue in Long Beach. There was a groundbreaking ceremony Aug. 4. Completion is tentatively slated for late September.
“The purpose is to meet the mortgage financing needs of the area,” said Debi Smiley, chief operations officer for Wauna Credit Union, “Mortgage/Real Estate Lending will be the initial services rendered.”
Growing demand for Pacific County property
The new mortgage financing office will serve a growing demand for Pacific County real estate.
“Recently it was brought to our attention by local real estate Agents that there was a growing demand for Real Estate Lending in Pacific County,” Smiley said. A feasibility study was conducted and the results reflected that the number of real estate transactions has significantly increased during the past 5 years and continue to climb annually.
“This reflects a strong demand for Real Estate financing,” Smiley explained, “We believe WCU can assist in meeting this need,” said Smiley adding that WCU has served Pacific County since July of 2012.
A growing enterprise
“It is our goal to provide a service that assists individuals in purchasing the home of their dreams,” she summed. WCU has braches offices in Astoria, Clatskanie, St. Helens, Scappoose, Vernonia, and Warrenton, Oregon with total assets exceeding $200 million.
“Total Membership exceeds 22,000 members including more than 600 in Pacific County, and employs more than 100 local employees,” according to Mike Chapman, WCU vice president of marketing. “WCU officials partnered with local businesses for our construction needs including Rickenbach Construction, Inc. (RCI), of Astoria, Oregon. RCI was selected as the general contractor for the Long Beach project and recently-built branches in Warrenton, St Helens, and the current remodel of the Clatskanie Branch.”