Charter Oak is #1 Mortgage Lender for 5th Consecutive Year

Waterford, CT – Charter Oak Federal Credit Union is again the Number 1 mortgage lender in eastern Connecticut, according to 2014 figures compiled by The Warren Group, earning the top ranking for an unprecedented five years in a row.

Since 2010, Charter Oak has originated more than 5,200 residential mortgages across New London and Windham counties with an impressive combined value that exceeds $656 million.

“Being the Number 1 lender in eastern Connecticut for five consecutive years is a major milestone, and it’s a very proud achievement for all of us at Charter Oak,” said Brian A. Orenstein, Charter Oak’s Chief Executive Officer. “Our lending and branch teams have worked extra hard to keep Charter Oak top of mind when it comes to mortgages,” he said.

Charter Oak held the top ranking in residential mortgage transactions in New London and Windham counties combined in 2010, 2011, 2012, 2013 and 2014, based on The Warren Group’s data.

“Our lending experts have assembled a product portfolio that offers the right mortgages at the right prices and right terms,” said Orenstein. “When it comes time for a mortgage, it’s clear that eastern Connecticut chooses Charter Oak.”

Based on The Warren Group’s Residential Mortgage Marketshare Report for 2014, Charter Oak originated close to 1,000 mortgages in New London and Windham counties combined, exceeding all the other local and national banks and credit unions that serve those two counties. The next closest competitor to Charter Oak originated nearly 700 mortgages in 2014, according to The Warren Group’s data. All 2014 figures reflect data compiled as of February 11, 2015.

In addition, Charter Oak ranked first in the total value of residential mortgages for both New London and Windham counties combined, with more than $119 million in residential mortgages originated during 2014, according to The Warren Group’s figures.

The Warren Group’s Residential Mortgage Marketshare Report includes all residential mortgages for New London and Windham counties with a value between $1 and $2 million. The Boston-based Warren Group collects and compiles data on real estate sales and ownership throughout New England and New York.

Charter Oak offers a broad range of mortgages, from conventional 10, 15, 20 and 30-year terms to its popular Accelerator (8 or 12 year mortgages) and Cost Saver mortgages. Charter Oak also offers VA, FHA, USDA and CHFA mortgages as well as 1, 3, 5, 7 and 10-year adjustable rate mortgages. To learn more about Charter Oak’s mortgage products and services, including refinancing options and home equity loans and lines of credit, please stop by any of our branches or visit our website at CharterOak.org.

Charter Oak has 14 branches in New London and Windham counties and assets of $847.2 million as of December 31, 2014.

Charter Oak Federal Credit Union, headquartered in Waterford, Connecticut, offers a broad range of financial services – including checking, deposit, lending, insurance and investments – to individuals, businesses, non-profits and professionals in New London and Windham counties. If you live, work, worship, attend school, or volunteer in New London or Windham counties, we invite you to do business with us. For more information about what