"For many families, $200 can mean the difference between an affordable monthly mortgage payment and an unaffordable one," said Gregg Brown, CEO of Southside Community Federal Credit Union. "This unique program is designed to help put homeownership within reach, providing affordable mortgages to more people in the communities that Southside Community Federal and Marquette Bank serve."

The new program is available to eligible members of Southside Community Federal Credit Union. Membership is open to those who live, work, worship, attend school or participate in an association within the boundaries of the market area served by Southside Community Federal. The boundaries are: 22nd Street (North) to the city limits (South), and from Lake Michigan (East) to Western Avenue (West).

The program works by combining first mortgages originated by Marquette Bank with second mortgages originated by Southside Community Federal. The "traditional" first mortgage of not more than 80 percent of the value of the property that is being bought is coupled with a second mortgage in the amount of the difference between a borrower's down payment and first mortgage. With this arrangement, homebuyers avoid the additional cost of private mortgage insurance, which otherwise would be required with a smaller down payment. Private mortgage insurance is a cost in addition to the principal, interest, taxes and insurance that a homebuyer must pay each month.

"This is a natural, logical partnership between two institutions with a proven track record in helping community members realize their dreams of homeownership," said Mike Mangin, Executive Vice President of Retail Lending for Marquette Bank. "We share a commitment to provide people with the opportunities, tools and resources needed to not only navigate and understand the homebuying process, but to become successful and responsible homeowners. This mortgage program is just one more example of how our shared commitment translates into making a real difference in people's lives."

Marquette Bank and Southside Community Federal Credit Union also offer financial literacy classes and homebuyer education classes throughout the year. These classes are designed to ensure potential homebuyers are equipped to evaluate financing options and opportunities and make appropriate decisions regarding these options based on their income and other financial commitments.

Integral to the mortgage program with Southside Community Federal, Marquette Bank also offers a $1,000 closing cost credit to borrowers with limited financial resources and small down payments through its "Great Start Mortgages" program. "Great Start Mortgages" also provide access to a variety of low-cost mortgage loans for home purchases or refinancing, as well as down payment grants and special loans for people with disabilities.

Marquette Bank has been serving the community since 1945, with 25 branches throughout Chicagoland — 9 locations on Chicago's south side. The Bank has been repeatedly recognized by regulators as having an excellent record of reinvesting and lending in the communities that it serves.

Southside Community Federal Credit Union has established a niche on the south side of Chicago since its founding three years ago, operating with a mission to equalize economic power and to fight poverty by improving financial literacy and providing access to credit and savings services for members.

"The partnership between Marquette Bank and Southside Community Federal will go a long way in putting economic opportunity into the hands of those who need it most," said Gregg Brown.

For more information, call Denisse Garzon at Marquette Bank at 773-918-4507 or Regina McRay at Southside Community Federal Credit Union at 773-548-5500.

About Marquette Bank

Marquette National Corporation is a $1.7 billion diversified financial holding company for Marquette Bank. Marquette Bank has been a locally-operated bank providing personalized banking service since 1945. Marquette Bank is a full-service, customer-focused community bank that serves the financial needs of Chicagoland communities, offering an extensive line of financial products including retail banking, mortgages, trust and business banking, free Online Bill Pay and free automated telephone banking. Marquette Bank's retail branches are located in Chicago, Aurora, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Lawn, Oak Forest, Orland Park, Romeoville and Summit, Illinois.

Marquette Bank customers have convenient surcharge-free access to over 33,000 Allpoint and Star sf ATMs nationwide. Marquette Bank is an Equal Opportunity Lender, Equal Housing Lender and Member FDIC. For more information visit: http://www.emarquettebank.com or call 1-888-254-9500.

About Southside Community Federal Credit Union

Southside Community Federal Credit Union (SSCFCU) is a not-for-profit federally-chartered Community Development Financial Institution. SSCFCU's mission is to fight poverty, debt, poor credit and predatory lending by providing its members with meaningful alternatives and asset-building opportunities through financial education, savings, investment and community development lending. SSCFCU serves 33 neighborhoods on Chicago's south side. It has a membership of 1600 and $2.6 million in assets. It offers affordable, financial services, accounts and loans. It also provides financial education, home ownership counseling, Individual Development Accounts (IDAs) and a youth credit union program. It is one of just two Community Development Credit Unions in the State of Illinois.