These days Eric Hudson of Newark, Delaware, is working steadily and making good money as a tele-data technician and 16-year member of the International Brotherhood of Electrical Workers (IBEW) Local 98. But during the economic downturn, Hudson twice went more than six months without work — or a paycheck. Read how Union Plus helped him when times got tough.
"I did what I could to keep some money coming in during hard times,” he says. “And I got help when I needed it with Union Plus mortgage assistance.”
Hudson had chosen the Union Plus Mortgage program when he refinanced his house. At that point the special assistance programs that Union Plus offers weren’t a high priority. “I had some coworkers who had been laid off but I’d always stayed pretty busy,” he says. “I’ve never missed a mortgage payment and I certainly never plan to.”
But the long recession affected both residential construction and bank construction—and that meant less work even for highly-trained IBEW technicians like Hudson. After months of being laid off, and struggling to keep the bills paid, he remembered the benefits of his union mortgage and contacted Union Plus for assistance.
“I’d never planned to use the program, but I was glad Union Plus was there for me when I needed them,” he says.
Choosing a union mortgage means more than just getting a great rate. It also means you have access to Union Plus mortgage assistance, which could help you keep your home in the event of a strike, lockout, layoff or disability.
After reading more about the program online, Hudson applied and quickly received $2,500 in interest-free assistance, which he started repaying at $75 month. Then when work picked up again as the economy improved, he paid the rest off in one big chunk. “I’ve just worked 30 days without a day off,” he laughs. “I figured I’d get the money paid back so help will be there for other union members who need it.”
Hudson doesn’t hesitate when he’s asked the best thing about being in the IBEW. “It’s the pay and benefits,” he says. But Union Plus programs are nice to have, whether it’s mortgage assistance or even saving money on flowers.
“Union Plus has a lot to offer. I’ve used that discount on flowers at least 10 times,” he laughs.
The Union Plus Mortgage program provides more than $43.6 billion in mortgages to help more than 280,000 union members and their families buy or refinance a home. It is packed with unique benefits tailored to meet the needs of active or retired union members, as well as their parents and children, who want to buy or refinance a home.
One of the many other benefits of the Union Plus Mortgage program include a hardship assistance. Union Plus Mortgage Assistance helps members and their families who are unemployed, recently disabled, on strike, or locked out make their mortgage payments with interest-free loans and grants. Mortgage Assistance has provided more than $11 million to help members keep their loans current and stay in their homes.
Protections and benefits you can’t find anywhere else.LEARN MORE