Consumer Credit Union (CCU) has finalized an investment in CU Community, LLC, dba 7 Mortgage, a credit union service organization (CUSO) based in Knoxville, TN. The investment from the credit union will make the organization a minority owner in 7 Mortgage. 7, LLC, the wholly owned holding company of ORNL Federal Credit Union, will remain majority owner.CCU, based in Greeneville, TN, has been a client of 7 Mortgage since 2007, joining as one of the first partner credit unions of the CUSO. Established in 2003, 7 Mortgage is licensed in seven states and provides mortgage services to its partner credit unions, with a goal of helping credit unions like CCU become full service providers to their members.
“Consumer Credit Union has been one of the longest tenured clients of 7 Mortgage and we are thrilled to have them now join us as owners to further the mission of helping credit unions deliver much needed mortgage services to credit union members throughout the Southeast,” said Wendy Robinson, President of 7 Mortgage.
Stephen Cutshall, SVP & Chief Mortgage Officer of CCU, will join the Board of Managers of 7 Mortgage. “7 Mortgage provides services that allow Consumer Credit Union to become more efficient in its lending process through scale. In a business where relationships matter, we are pleased in partnering with 7 Mortgage. As owners, we look forward to the continued success together with them,” said Cutshall.
About Consumer Credit Union
Consumer Credit Union is a non-profit, cooperative savings and lending organization chartered by the Tennessee Secretary of State in February 1953. With over $555 Million in assets, Consumer Credit Union serves 36,000 members who live, worship, volunteer, attend school in, or work for a business located in Anderson, Blount, Claiborne, Cocke, Greene, Hancock, Hamblen, Jefferson, Knox, Loudon, Sullivan, Union, and Johnson City, Tennessee. www.consumercreditunion.com
About CU Community, LLC dba 7 Mortgage
CU Community, LLC dba 7 Mortgage is a credit union service organization established in 2003 by ORNL Federal Credit Union with the fundamental purpose of developing an outstanding platform of mortgage services for the credit union industry. 7 Mortgage is licensed in Alabama, Georgia, Kentucky, Mississippi, Tennessee, Virginia, and Florida. Rooted in the seven cooperative principles, 7 Mortgage is made of experienced credit union people with the passion, insight, and skills to help credit unions and their members thrive. www.7.coop
