First Heritage Financial LLC, a credit union-owned mortgage service provider based in Philadelphia, ended May 2012 at $1.016 billion of mortgage loans serviced.
“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."
First Heritage Financial provides turnkey, behind-the-scenes mortgage support to 57 partner credit unions that have combined assets of over $5.5 billion.
First Heritage Financial began as a wholly owned subsidiary of 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.