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UM Financial reaches $120M in Residential Mortgages
Since 2005 UM Financial has secured a Mudarabah financing facility from Credit Union Central of Ontario. This facility has reached $120 Million.
Currently, we are not accepting any new mortgage applications and are only servicing our existing 500 home financing clients until our new product with another financial institution is available.
Credit Union Central of Ontario had UM Financial’s CEO address its annual Treasury & Finance Conference to share the success of Shariah Mortgages to date.
Bill Calder, Director Commercial Credit Risk Management CUCO states “We can acknowledge that at this time UM continues to maintain an ongoing satisfactory commercial relationship with CUCO.”
(Notice to Current UM Financial Clients: Current financing renewal fee is $295.00. Current Termination Administration Fee is $995.00.)
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