Philadelphia Housing Finance CUSO Sees Record Year in 2012
A housing finance CUSO headquartered in Philadelphia posted a record year in 2012 with over $452 million in loans closed and with $1.2 billion in loans being serviced.
First Heritage Financial's previous record had been $316 million in 2009, according to the CUSO.
“We are extremely excited to have achieved this goal," said the CUSO's CEO, John Giordano. “Our partner credit unions entrust us to provide comprehensive, high-quality mortgage services to their members. Without their confidence, we could not have achieved this success."
First Heritage Financial serves 63 partner credit unions that have combined assets of over $6.3 billion and more than 711,000 members throughout Pennsylvania and Delaware, the firm said. It is also the exclusive mortgage service provider for the Pennsylvania Credit Union Association.
First Heritage Financial is owned by the $1.25 billion American Heritage Federal Credit Union, along with Service 1st Federal Credit Union in Danville, Pa.; Erie FCU in Erie, Pa.; and People First FCU in Allentown, Pa.