Two credit unions have launched a CUSO to originate mortgages deep in the heart of Texas.
United Heritage Credit Union of Austin ($947 million in assets, 61,333 members) and Credit Union of Texas based in Dallas ($1.4 billion in assets, 137,519 members) have formed Texas Mortgage Lending, LLC, a full-service mortgage originator providing services to the members of both credit unions. Members using the CUSO will be able to review loan alternatives and apply for loans online.
Its operations will be housed at the CUTX branch at 601 North Plano Rd. in Richardson. It will allow the credit unions to originate mortgages to each of their members, while benefitting from economies of scale through shared costs and process optimizations between both credit unions.
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