Groton, CT – February 5, 2013 – Charter Oak Federal Credit Union is once again the number one mortgage lender in eastern Connecticut, according to annual figures compiled by The Warren Group, extending its lending dominance across the region for the third consecutive year.
Charter Oak ranked first in 2012 in the number of residential mortgage transactions in New London and Windham counties combined based on The Warren Group’s Residential Mortgage Marketshare Report, which includes all residential mortgages with a value between one dollar and $2 million. In 2010 and 2011, Charter Oak also ranked first in number of residential mortgage transactions in those two counties combined.
“Charter Oak is clearly the go-to financial institution for mortgages across both New London and Windham counties, outpacing the other local and national banks and credit unions serving these markets,” said Brian A. Orenstein, Charter Oak’s Chief Executive Officer. “Being ranked number one for three consecutive years is a big honor for us, and it solidifies Charter Oak’s status as eastern Connecticut’s dominant mortgage lender.”
Orenstein thanked Charter Oak’s members for their continued loyalty, and he praised the efforts of Charter Oak’s lending team throughout 2012. “They do a tremendous job, and we intend to work very hard to continue to be the top choice for those seeking mortgages – whether it’s a starter home or a dream house.” Charter Oak offers a wide variety of lending and mortgage products, including its popular Accelerator and Cost Saver mortgages, as well as USDA and FHA mortgages.
In 2012, Charter Oak closed 1,284 mortgages with a total dollar value of $171.6 million in New London and Windham counties combined, scoring the top spot in both number of residential mortgage transactions and total dollar value for those two counties combined, based on The Warren Group’s data.
Charter Oak has 12 branches extending across New London and Windham counties. Over the past several years, Charter Oak has experienced strong growth. In 2012, the Groton-based credit union’s assets grew to $764 million, up nearly 9 percent from assets of $702 million in 2011.
For more information about Charter Oak’s products and services or its branch locations, please visit its website at www.CharterOak.org.
Charter Oak Federal Credit Union, headquartered in Groton, Connecticut, offers a broad range of financial services – including checking, deposit, lending, insurance and investments – to individuals, businesses, nonprofits and professionals in New London and Windham counties. If you live, work, worship, attend school, or volunteer in New London and Windham counties, we invite you to do business with us. For more information about what Charter Oak can offer you, please visit www.CharterOak.org. Federally insured by NCUA. Equal Housing Lender.