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Horizon CU Buys Mortgage Business

SPOKANE, Wash. - Starting Oct. 1, Cherry Creek Mortgage Co. will operate as a subsidiary of Horizon CU. The $196.7-million credit union acquired the mortgage company and will continue to operate the company under the Cherry Creek Mortgage name. Terms of the transaction were not disclosed. Don Walker, who opened...

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SPOKANE, Wash. – Starting Oct. 1, Cherry Creek Mortgage Co. will operate as a subsidiary of Horizon CU. The $196.7-million credit union acquired the mortgage company and will continue to operate the company under the Cherry Creek Mortgage name. Terms of the transaction were not disclosed. Don Walker, who opened the Cherry Creek Mortgage outlet in 1994 under an affiliate agreement with the company’s Denver-based parent company, has been named president of the new Horizon subsidiary. Horizon CU and Cherry Creek are currently waiting for necessary authorizations from the federal government’s VA and FHA loan programs.

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