Charter Oak is Number 1 Mortgage Lender for 8th Consecutive Year

Waterford, CT ­– Charter Oak Federal Credit Union is the Number 1 residential mortgage lender in eastern Connecticut for the eighth consecutive year, originating over 9,800 residential mortgages in New London and Windham counties combined since 2010 with a total value topping the $1.2 billion mark.

"It's a real honor for Charter Oak to be eastern Connecticut's top mortgage lender for eight straight years," said Brian A. Orenstein, Charter Oak's President and Chief Executive Officer. "Year after year, our lending teams work very hard to find the right mortgage for prospective homebuyers and those looking to refinance," he said. "And because we offer more mortgage products with great rates and great terms, we've become the go-to provider of affordable mortgages for both New London and Windham counties," 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, 2015, 2016 and 2017 based on data collected from the Boston-based Warren Group’s Residential Mortgage Marketshare Report.

During 2017, Charter Oak originated 999 residential mortgages in New London and Windham counties combined with a total value of more than $126 million, exceeding all of the other local and national banks and credit unions that serve the two counties, based on The Warren Group's data. The next closest competitor to Charter Oak originated 519 mortgages in New London and Windham counties combined during the past year, according to the data.

Besides the top ranking for New London and Windham counties combined in 2017, Charter Oak ranked first in residential mortgages in New London County by originating 799 mortgages with a total value of over $106 million. Charter Oak also ranked first in residential mortgages in Windham County by originating 200 residential mortgages with a total value of over $20 million.

The Warren Group’s Residential Mortgage Marketshare Report includes all residential mortgages in New London and Windham counties with a value between $1.00 and $25 million. The Warren Group (www.warrengroup.com) collects and compiles data on real estate sales and ownership throughout New England and New York.

Charter Oak offers an extensive lineup of mortgage products, including our conventional 10, 15, 20 and 30-year terms as well as our popular Accelerator 8-year or 12-year mortgages and our Cost Saver mortgages. In addition, Charter Oak offers VA, FHA, USDA and CHFA mortgages as well as 1, 3, 5, 7 and 10-year adjustable rate mortgages. This past year, Charter Oak further expanded its CHFA mortgage offerings to include lower-rate mortgages earmarked for police officers, teachers and those in the military. 

To learn how you can benefit from Charter Oak’s extensive mortgage offerings, including our popular 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 simply call 860.446.8085 or 800.962.3237. Federally insured by NCUA. Equal Housing Lender.

Charter Oak Federal Credit Union is like a bank, just better! We've been proudly serving eastern Connecticut since 1939 and we offer great checking, deposit, lending, insurance and investment products. And because we're a credit union, we're owned by our members, not by shareholders. So we can offer lower rates on loans and higher rates on deposits. It's easy to become a Charter Oak member: simply live, work, worship, learn, or volunteer in New London or Windham counties. So join today and see why Members Bank Better at Charter Oak! Learn more at CharterOak.org, or visit any of our convenient branches, or simply call 860.446.8085 or 800.962.3237.