Charter Oak is Again No. 1 Mortgage Lender for 6th Consecutive Year

Waterford, CT ­– Charter Oak Federal Credit Union is again the Number 1 residential mortgage lender in eastern Connecticut, earning the top ranking for a record six consecutive years.

Since 2010, Charter Oak has originated 6,265 residential mortgages across New London and Windham counties, with a combined value exceeding $782 million.

“Being the top mortgage lender since 2010 is a remarkable achievement and a proud moment for all of us at Charter Oak,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “And it’s a reflection of the extraordinary efforts of our lending and branch teams to make sure that eastern Connecticut chooses Charter Oak for its mortgage needs – and it has, for six years running,” he said.

Charter Oak has held the top ranking in residential mortgage transactions in New London and Windham counties combined in 2010, 2011, 2012, 2013, 2014, and 2015 based on data collected from The Warren Group’s Residential Mortgage Marketshare Report.

Charter Oak originated 998 residential mortgages in New London and Windham counties combined, exceeding all of the other local and national banks and credit unions that serve those two counties, based on data from the 2015 Residential Mortgage Marketshare Report. The next closest competitor to Charter Oak originated 509 mortgages in New London and Windham counties combined during 2015, according to the data.

In addition to its top ranking for the number of residential mortgages originated in New London and Windham counties combined during 2015, Charter Oak also ranked first in the total value of residential mortgages for both New London and Windham counties combined, with $126 million in residential mortgages originated during 2015, based on The Warren Group’s 2015 residential mortgage figures.

Besides the top ranking for both counties combined during 2015, Charter Oak also ranked first in residential mortgages within New London County by originating 778 mortgages with a value of $103.6 million, as well as taking top honors for Windham County by originating 220 mortgages with a value of $22.4 million.

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. For more information about The Warren Group’s products and services, please visit its website at www.thewarrengroup.com or call 617.428.5100.

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 extensive mortgage products and services, including refinancing options and home equity loans and lines of credit, please stop by any of our convenient branches, or visit our website at CharterOak.org or call 860.446.8085 or 800.962.3237.

Charter Oak is eastern Connecticut’s largest credit union with assets of $935 million as of December 31, 2015 and 14 branches in New London and Windham counties. Charter Oak will open our 15th branch in Mystic this spring, providing one of the largest and most convenient branch networks of any financial institution in eastern Connecticut.

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 Charter Oak can offer you, please visit CharterOak.org. Federally insured by NCUA. Equal Housing Lender.