PORTLAND, Me. - Primary Mortgage Corp., a full service mortgage CUSO of University CU, has become a multiple owned CUSO with its recent equity partner expansion that includes cPort CU and TruChoice FCU. UCU President Howard Dunn said University CU decided to offer an ownership interest in PMC "to broaden our base for mortgage activity and to expand the company's capital to fuel new growth and the development of a member business lending program." Collectively, the three credit unions represent over $300 million in assets and more than 45,000 members. CPort CU, formerly known as Government Employees CU of Maine, is one of the state's oldest credit unions. The Portland-based CU has nearly 16,000 members and approximately $90 million in assets. TruChoice FCU, formerly known as Medical Services FCU, celebrated its 50th anniversary earlier this year. Also based in Portland, it has approximately $46 million in assets and about 8,300 members. PMC has affiliate relationships with over 20 CUs in Maine.
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From the June-15, 2005 issue of Credit Union Times Magazine • Subscribe!
cPort CU, TruChoice FCU Invest in Primary Mortgage Corp.
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