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MANCHESTER, N.H. – St. Mary’s Bank, the oldest credit union in the U.S., recently opened its new Mortgage Center as part of its ongoing effort to deliver “world class service to consumers,” a CU spokesperson said. The new center, says the credit union, allows consumers to apply for a mortgage in minutes using the method that works best for them – apply online, by phone or in person at any one of St. Mary’s branches. In most cases, the CU said applicants receive approval in less than two minutes. Lynne Haney, loan systems and support officer at St. Mary’s said the CU has managed to take 15 days off the entire closing process, “often making us ready to close before the parties are.” In addition, by reducing the amount of documentation required, Haney said the mortgage process is more consumer-friendly. St. Mary’s has spent the past two years retooling their infrastructure to support mortgage delivery by improving internal processes and investing in technology. For example, last year the CU formed its own title company – St. Mary’s Title Services – to control more of the mortgage process and provide more value. St. Mary’s Bank has nearly $490 million in assets.

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