Alabama Credit Union has executed a service agreement with 7 Mortgage to originate, process, underwrite and close secondary market mortgage loans. Of the recent partnership, Vice President of Business Development, A.J. Holst said, “This opportunity is extremely exciting for our organization as Alabama Credit Union was seeking a solution to offer mortgages to their members outside of their footprint. Our ability to originate in AL, FL, GA, KY, MS, TN and VA was a good fit with the added benefit of retained Fannie Mae servicing to create a wall of credit union influence around their members. We appreciate the trust of the ACU team, President and CEO Steve Swofford, CLO Benson Bolling, Mortgage Lending Manager Sandra Jones and Senior Mortgage Officer Mike Ivey, to allow us to serve their credit union and members.” Alabama Credit Union has been a partner of 7 Family of CUSOs since 2020 through 7 Insurance. Special thanks to Alabama CU Services leadership Tommy Cobb and Joe Hardy for your continued business and support.

About 7 Mortgage: a mortgage CUSO subsidiary of 7, LLC and $3.2B Oak Ridge-based ORNL Federal Credit Union. Founded in 2003, 7 Mortgage currently serves 36 credit unions with business fulfillment to a full turn-key remote mortgage department solution.

About Alabama Credit Union: a $1.7B Tuscaloosa-based credit union serving the University of Alabama and almost 140,000 members since 1956.

Consumer Credit Union (CCU) has finalized an investment in CU Community, LLC, dba 7 Mortgage, a credit union service organization (CUSO) based in Knoxville, TN. The investment from the credit union will make the organization a minority owner in 7 Mortgage. 7, LLC, the wholly owned holding company of ORNL Federal Credit Union, will remain majority owner.CCU, based in Greeneville, TN, has been a client of 7 Mortgage since 2007, joining as one of the first partner credit unions of the CUSO. Established in 2003, 7 Mortgage is licensed in seven states and provides mortgage services to its partner credit unions, with a goal of helping credit unions like CCU become full service providers to their members.

“Consumer Credit Union has been one of the longest tenured clients of 7 Mortgage and we are thrilled to have them now join us as owners to further the mission of helping credit unions deliver much needed mortgage services to credit union members throughout the Southeast,” said Wendy Robinson, President of 7 Mortgage.

Stephen Cutshall, SVP & Chief Mortgage Officer of CCU, will join the Board of Managers of 7 Mortgage. “7 Mortgage provides services that allow Consumer Credit Union to become more efficient in its lending process through scale. In a business where relationships matter, we are pleased in partnering with 7 Mortgage. As owners, we look forward to the continued success together with them,” said Cutshall.

About Consumer Credit Union

Consumer Credit Union is a non-profit, cooperative savings and lending organization chartered by the Tennessee Secretary of State in February 1953. With over $555 Million in assets, Consumer Credit Union serves 36,000 members who live, worship, volunteer, attend school in, or work for a business located in Anderson, Blount, Claiborne, Cocke, Greene, Hancock, Hamblen, Jefferson, Knox, Loudon, Sullivan, Union, and Johnson City, Tennessee. www.consumercreditunion.com

About CU Community, LLC dba 7 Mortgage

CU Community, LLC dba 7 Mortgage is a credit union service organization established in 2003 by ORNL Federal Credit Union with the fundamental purpose of developing an outstanding platform of mortgage services for the credit union industry. 7 Mortgage is licensed in Alabama, Georgia, Kentucky, Mississippi, Tennessee, Virginia, and Florida. Rooted in the seven cooperative principles, 7 Mortgage is made of experienced credit union people with the passion, insight, and skills to help credit unions and their members thrive. www.7.coop

Tag: CUSO

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