LAUREL, Md. – Tower FCU here reported it has now processed more than $70 million in mortgage refinancings as part of the government’s Home Affordable Refinance Program (HARP).

TFCU VP-Real Estate Lending Barry Stricklin said the average member who has refinanced has saved $425 a month on his or her mortgage payment, with some members saving more than $700 per month and one member saving more than $12,000 for the year.

The credit union said the results stem from being proactive in reaching out to members earlier this year about the second phase of HARP.


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