Mortgage Servicing CUSO Reaches Billion Dollar Mark
First Heritage Financial, LLC, a mortgage CUSO headquartered in Philadelphia, now services more than $1 billion in credit union issued mortgages, the CUSO has announced.
“We are extremely excited to surpass this milestone," said First Heritage Financial CEO John Giordano. "Our partner credit unions entrust us with the business their members bring to them. Without that confidence, we could not have achieved this goal.”
As of the end of May, the CUSO serviced $1.016 billion in mortgage loans, the CUSO reported.
First Heritage Financial began as a wholly owned subsidiary of the $1.2 billion American Heritage Federal Credit Union. In August 2011, Service 1st Federal Credit Union, Danville, Pa.; Erie Federal Credit Union, Erie, Pa.; and People First Federal Credit Union, Allentown, Pa., purchased ownership positions in First Heritage.
"Certainly, special thanks go to our owner credit unions and staff for their direction, support and commitment," Giordano said. "We look forward to the future and First Heritage’s continued growth.”
The CUSO provides mortgage services to 57 credit unions in Pennsylvania and Delaware.