Navy FCU to Hire 920 in 2007

Navy Federal Credit Union plans to hire 920 new employees in 2007, perhaps the most ambitious hiring plan ever for a credit union, Navy FCU President Cutler Dawson told the Credit Union Journal yesterday.

The hirings will increase the Merrifield, Va.-based credit union’s workforce to 6,000 — or 18% — worldwide.

The new employees will help staff the 45 new branches the credit union plans to build over the next five years, as well as a new call center in Pensacola, Fla. and member service centers.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.