Business View Magazine | December 2020

216 BUSINESS VIEW MAGAZINE DECEMBER 2020 ELGA CU to extend their hours of operation without staffing branches in the evenings, which in turn helps their associates manage a good work/life balance. Even with the economic downturn that struck in 2020, the nation’s housing market has continued to surge. So too has the lending activity associated with higher capital requirements. In Burton, a combination of Government money flooding the market, and the new coronavirus- inspired appreciation for “home”, helped set the stage for an active and healthy real estate market throughout the spring and summer. “I can confirm this is 100% happening in our area,” says Katzur. “People confined to their homes with not a lot to do. They figure it’s a great time to do home renovations. As far as mortgages, the rates plummeted at the onset of this, which created a huge refinance boom. On top of that, house sales are strong. The real estate market right now is strong. Properties don’t stay on the market very long. So, across the board, we’re seeing good loan volume.” While cross-country trends in real estate rebound, housing advocates are warning about the pandemic’s toll on affordable housing, forecasting budget shortfalls are likely to mean less funding for city and state programs to subsidize homes. Enter ELGA CU… always dedicated to their mission of service, they’ve become a partner in an affordable housing project that’s set to revitalize a neighborhood with eye-catching apartments, townhouses, and retail outlets. They helped the sponsor of that project obtain a $500,000 grant from the Federal Home Loan Bank of Indianapolis and will provide additional funding through their commercial lending services as the project progresses. “A lot of new members come in because of our presence in the community,” says Katzur. “We’re not just about helping members, we’re here to strengthen our community and make it a better place for everyone to live. We’re involved in more CEO, Karen Church