*Loan,banking and credit>>>credit line

Why has my credit union recently preapproved me for a home equity line of credit.?

I sold a townhouse I had financed through the credit union around April 2004.

They have not updated their file to indicate that you no longer own real estate. That is why you received that notice of pre-approval. Most CU are unmanned and you have 1 person working in different departments. I work with one CU that has a member base of 11K members and only have 20 people working to service that base. Source(s): Loan Consultant

they want your money
Banks make most of their money from the interest on mortgages and loans. They encourage individuals whom they see as a "good risk" to take out loans so they can get the interest revenue from it.
They probably think you bougth another house. There may be a marketing firm sending out the pre-approval.