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Michigan Credit Union League

Two Michigan CUs Make List of Top Industry Mortgage Producers

A pair of Michigan credit unions is on the list of top mortgage-lending credit unions for the Midwest Region.

According to Sageworks, a financial analysis company, Lake Michigan CU had the third-highest total of mortgages in the Midwest. MSUFCU placed 10th on the Midwest list. Sagework reported that LMCU had $1.67 billion in first mortgages through the third quarter of 2014. It listed MSUFCUs mortgages at $761 million.

In addition, Sageworks reported that Michigan credit unions have increased first mortgage lending by 34.7 percent since 2010.

Sageworks breaks the country into four regions: Northeast, South, Midwest and West.

Not unexpectedly, the Big Three credit unions – Navy FCU, State Employees CU and Pentagon FCU, all in Sageworks South Region – topped all credit union mortgage producers by a wide margin. Navy Federal reported $19.3 billion, SECU had $12.9 billion and Pentagon had $10.3 billion. No other credit union was above $4 billion.

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2015-01-26 00:00:00