WATERFORD, Conn.– Charter Oak Federal Credit Union reported it is once again the Number 1 residential mortgage lender in eastern Connecticut, earning this top designation for an unprecedented seven consecutive years.
Since 2010, Charter Oak has originated 8,683 residential mortgages in New London and Windham counties combined, with a total value exceeding $1 billion, the credit union reported.
“We're honored to be the top mortgage lender for a record seven consecutive years,” said Brian A. Orenstein, Charter Oak’s president/CEO. “It's a huge achievement for Charter Oak and for our remarkable lending team, which has worked very hard to earn this top honor,” he said. “For seven years now, eastern Connecticut has looked to Charter Oak for their mortgage needs because we offer them the right products at great rates and great terms,” Orenstein said.
Charter Oak has held the top ranking in residential mortgage transactions in New London and Windham counties combined for the past seven consecutive years based on data collected from The Warren Group’s Residential Mortgage Marketshare Report.
Charter Oak said it originated 1,097 residential mortgages in New London and Windham counties combined in 2016 with a value of more than $149 million, exceeding all of the other local and national banks and credit unions that serve those two counties, based on data from the 2016 Residential Mortgage Marketshare Report. The next closest competitor to Charter Oak originated 599 mortgages in New London and Windham counties combined during 2016, according to the data.