Sponsors who ask for an Arizona credit union usually name a short list. NCUA's directory lists Desert Financial and Arizona Financial with Phoenix main offices, OneAZ with a Phoenix main office, and Vantage West with a Tucson main office. Those are among the credit unions that write member-business loans on commercial buildings in this state. Naming them is a map. It is not a house lender, not a partnership, and not a closing.
How large a book each credit union can hold is a federal limit, not a coupon. Under 12 CFR 723.8, a federally insured credit union's aggregate net member-business-loan balances are capped at the lesser of 1.75 times actual net worth or 1.75 times the net worth required to be well capitalized, with exclusions and exceptions in the same rule. That cap sits on the credit union's portfolio. It is not a maximum for one building and not a rate. A credit union near the cap can pass on a file a bank will still take. We ask before the package goes out.
Membership and the building are both the credit union's test
A credit union can decline a clean building because the sponsor is not a member, or because the property type is outside that credit union's commercial box. We do not waive membership and we do not promise an exception. The comparison is often a community bank next to one or two credit unions, which is the work on Arizona bank.
Owner-occupied buildings are the usual fit. A leased investment property can still be a credit-union hold when the institution wants it. Apartments that belong at Fannie Mae or Freddie Mac should not be forced onto a recourse credit-union note. We are not a Fannie Mae DUS lender. The national search, without the Arizona institutions, stays on credit union commercial mortgages.
No Arizona credit-union tombstone
Nothing on the transactions list names a credit union. The Midwest office acquisition was bank debt and is not Arizona. Unlabeled Arizona cards are not assigned to Desert Financial, Arizona Financial, OneAZ, or Vantage West.
City versions of this search are Phoenix credit union and Tucson credit union. The office that arranges either file is 7373 E Doubletree Ranch Rd #255, Scottsdale, AZ 85258.
Where a credit union tends to win the hold
The files we take to a credit union are usually owner-occupied buildings, smaller investor property, and sponsors who want a local portfolio hold. Membership, loan size, and property type are the credit union's rules. Arizona owner-occupied is the occupancy page. A City of Phoenix address can also start on Phoenix credit union.
We do not name a credit union as if a relationship were a closing, and we do not publish a credit-union tombstone. None is on the transactions list.
What we will not call a credit-union loan
Fannie Mae, Freddie Mac, HUD, a life company, and CMBS are different capital. A credit union is not the takeout for a large agency apartment, and it is not a hard-money substitute. Bridge stays on the bridge pages. Construction draws are not a credit-union product on this desk.
A bank and a credit union are both portfolio lenders, and they are not the same search. Bank debt lives on Arizona bank CRE loans. This page is only the credit-union hold.
Credit union debt is a portfolio hold we arrange
| Credit union | Not this page | |
|---|---|---|
| Role | We arrange the loan. A credit union may hold it. | Capital Market Funds is not a credit union. |
| Fit | A relationship hold, including some owner-occupied commercial | Agency multifamily that belongs at Fannie Mae or Freddie Mac |
| Limit | Membership and the credit union's own box still apply | A promise that every credit union will take every Arizona asset |
Arizona portfolio lenders next to a credit union
| Source | When it fits |
|---|---|
| Credit union | The national credit-union search. This page is Arizona. |
| Arizona bank | Banks and credit unions compared as portfolio lenders. |
| Arizona commercial mortgage | The full stack when a credit union is the wrong box. |
| Owner-occupied | The occupancy most credit-union CRE files start with. |