Altura Introduces Escrow CUSO

RIVERSIDE, Calif. –Altura Credit Union has launched Amerit Escrow, a new CUSO that ties directly to its Patrion Mortgage, LLC subsidiary. The escrow is part of a wider philosophy of offering products to satisfy the requests of Altura’s member base so that they do not switch to another financial institution. Altura Credit Union has assets of $821 million and 106,000 members. “We’ve worked to build a diversified product line that would enable us to say, ‘If we can’t do it, than no one else can,’” explained David Constantino, president and COO of Patrion Mortgage, who also oversees Amerit Escrow. “For our member base, we can take a loan origination all the way to the point of funding. We thought that in order to really deliver we could bring in an escrow division. That way not only do we have control of the service from the loan aspect, but now we can have control of the service from the interaction with escrow.” The blueprint for the first year is to offer Patrion Mortgage volume Amerit Escrow services. While the escrow division is built the CUSO plans to seek new business opportunities in the real estate community, Constantino said.