Members 1st fares well in mortgage ranking

Lower Allen Township-based Members 1^st Credit Union was recognized among the top 300 mortgage-granting credit unions in the United States as of March 31, according to the American Credit Union Mortgage Association (ACUMA).

Members 1^st, the third largest credit union in Pennsylvania behind the Pennsylvania State Employees Credit Union and the Police and Fire Federal Credit Union based on total assets, was ranked 37th by the association and was the only Pennsylvania Credit Union listed in the top 50.

Collectively, the top 300 credit unions in the U.S. originated 93,653 fixed and adjustable first mortgages, about 12,000 fewer than in the first quarter of 2018.  Those mortgages totaled about $20.4 billion nationally, about $4 billion less than in 2018.

A total of $311.3 billion in fixed and adjustable rate mortgages were outstanding, while over $8 billion were sold.

While numbers were down for nearly all of the credit unions in the top 50, some credit unions, including Members 1^st, saw increases.

Members 1^st originated 634 such mortgages compared to 500 in the first quarter of 2018. Those totaled some $117.1 million, a jump of about $33 million.

Members 1^st held $915.7 million in outstanding first mortgages, sold $36.5 million in first mortgages and sold $249 million in real estate loans, an increase in all categories.

Members 1^st jumped 28 spots from a ranking of 65^th overall in last year’s first quarter ranking. Over the past year the lender has originated 1,437 mortgages valued at $274.2 million.

“We are very proud to achieve these recognitions,” stated Members 1^st President and CEO George Nahodil in a press release.

“That’s a real testament to the work ethic and the efforts of the mortgage team here,” said spokesman Mike Wilson, adding that 53 of the bank’s 984 employees work in the mortgage area.

Formed in 1950, and based originally at the Navy Supply Depot in Hampden Township, Members 1^st serves 435,000 members in 55 locations in south central Pennsylvania.

In February, it will relocate its headquarters from the four-building complex at the Rossmoyne Business Center to a new, 25-acre campus at the Hampden Marketplace on Marketplace Way, off of Valley Road on the east side of Interstate 81.

ACUMA is a trade organization for credit unions. Its members include federal and state-chartered credit unions and credit union service organizations, mortgage insurance companies, secondary market investor and investment banking firms, and tech companies operating in the mortgage space.