BASKING RIDGE, N.J. — CUMAnet has announced that the Credit Union of New Jersey is its newest credit union owner, joining Affinity Federal Credit Union and Greater Alliance Federal Credit Union as sole owners and operators of the CUSO.
"Partnering with CUMAnet allows us to help our members improve their lives by providing them with financing options for their most important purchase, their home," said Andy Jaeger, president/CEO of CUNJ. "CUNJ has had a very successful relationship with CUMAnet and we're pleased to take an ownership position in this dynamic and growing CUSO."
Prior to signing on as an owner, CUNJ was a member of CUMAnet's Alliance of Credit Unions. CUMAnet basically serves as the credit union's mortgage department by offering its member credit unions the flexibility to customize their own home loan offerings as well as the opportunity to offer a wide array of products and services that enhance and grow their relationships with their members.
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"We are thrilled to take this next step with CUNJ with whom we have had a long standing and mutually beneficial relationship by adding them to the CUMAnet family as an owner," said Daniel von Schaumburg, president of CUMAnet. "Moreover, we welcome the insight and participation of Andy Jaeger, president and CEO of CUNJ, as a member of our board of directors."
CUMAnet is a full-service, real estate organization providing residential mortgage and home equity loan products and related services to credit unions exclusively nationwide for 11 years.
The $211 million CUNJ serves 30,000 members, most of which are New Jersey state employees.
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