Associated Bank named Platinum Million Dollar Lender
GREEN BAY, Wis. – Sept. 24, 2013 – The United States Department of Agriculture (USDA) Rural Development Wisconsin State Director, Stan Gruszynski, recently announced Associated Bank as a recipient of the Platinum Million Dollar Lender Award.
The Award is presented to lenders who have made a significant contribution to assisting Wisconsin rural residents achieve the dream of homeownership, in partnership with USDA Rural Development and the Guaranteed Rural Housing (GRH) Program.
In fiscal year 2012, Associated Bank utilized more than $5 million of GRH program funds by financing home purchases to help moderate income families in Wisconsin. More than 3,380 families across Wisconsin were able to purchase a home last year through the GRH loan program, totaling nearly $415 million.
“Working with our numerous lending partners across the state, we are able to make safe, affordable housing available to rural Wisconsin families and provide the financial resources needed for homeownership opportunities,” said Gruszynski. “Homeownership should be an achievable dream and in many cases, our Rural Housing Programs provide the only way for rural residents to buy a home. By partnering together we are able to leverage resources and overcome current economic challenges to help more families and residents achieve their homeownership goals.”
The Million Dollar Lender Award is presented at three levels based on the total of funding utilized Silver, Gold, and Platinum; Silver level utilized more than $1 million, Gold level utilized more than $2 million, and Platinum level utilized more than $5 million during the past year.
Associated has been recognized in various award levels each year since the inception of the GRH program in 2003.
“Associated Bank is pleased to accept this recognition and even more pleased to have helped so many families in Wisconsin own their own home through GRH loan program last year,” said Dave Bauer, SVP and Director of Associated Mortgage Sales. “Associated is committed to our partnership with the GRH program to provide affordable interest rates and loan terms to borrowers in the communities we serve.”
“We value our partnership with Associated Bank,” Gruszynski added, “and recognize their outstanding efforts to provide the citizens they serve with homeownership opportunities through our Home Loan programs.”
About the Guaranteed Rural Housing Program
The GRH program assists homebuyers in obtaining a 30-year fixed rate mortgage without the down payment typically required by conventional lenders and programs. GRH loans are financed through participating lenders, such as banks and credit unions, and are guaranteed by USDA Rural Development. The amount of the mortgage is limited by the applicant’s repayment ability and can be made for up to 100 percent of the appraised value. There are no restrictions on the size or design of the home. Loan closing costs and repairs can often be financed with the home purchase. Eligible areas include rural regions and communities under 20,000 in population, and not part of a larger urban area.
Further information on programs available through USDA Rural Development is available by contacting any Rural Development office, calling 715-345-7600, or visiting the agency's web site at http://www.rurdev.usda.gov/WI_RDHome.html.
USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As the lead federal agency for rural development needs, USDA Rural Development returned nearly $828 million dollars this past year to rural Wisconsin communities. Funds are used to finance and foster growth in homeownership, business development, and critical community and technological infrastructures. Further information on USDA Rural Development programs is available at a local USDA Rural Development office or by visiting the web site at http://www.rurdev.usda.gov/WI_RDHome.html.
USDA has made a concerted effort to deliver results for the American people, even as USDA implements sequestration – the across-the-board budget reductions mandated under terms of the Budget Control Act. USDA has already undertaken historic efforts since 2009 to save more than $828 million in taxpayer funds through targeted, common-sense budget reductions. These reductions have put USDA in a better position to carry out its mission, while implementing sequester budget reductions in a fair manner that causes as little disruption as possible.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NASDAQ: ASBC) has total assets of $24 billion and is one of the top 50, publicly traded, U.S. bank holding companies. Headquartered in Green Bay, Wis., Associated is a leading Midwest banking franchise, offering a full range of financial products and services through approximately 240 banking locations serving more than 150 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.