CUSO Home Lending Celebrates 30 Years

On July 19, 1993, a new idea to help move families into home ownership was born and 30 years later, CUSO Home Lending has serviced roughly 50,000 home mortgages.

CUSO Home Lending was borne out of a desire by a group of credit unions in Maine and the Maine Credit Union League to provide superior mortgage services to both credit union members and non-members. While CUSO provides services primarily in Maine, it is also licensed in New Hampshire and Florida.

Lori Michaud, President & CEO of CUSO, has been with the company since its 1993 founding and is proud of its record of service.

“There have been many highs and lows in the mortgage industry but what hasn’t changed is our passion for helping families achieve homeownership,” shared Michaud. “With our wide variety of products, including the CU Promise loan, we continue to be a leader in providing lending and related financial solutions in meeting the needs of consumer and business owners in collaboration with the credit union community.”

In addition to its official work of originating and servicing mortgages, CUSO and its employees are volunteers and contributors to charities throughout Maine, and especially to Maine Credit Unions’ decades-long Campaign for Ending Hunger.

Cris Wescott, Interim President and CEO at the League and Synergent added, “For three decades, CUSO Home Lending has been helping Mainers attain the dream of home ownership. Their longevity in an ever-changing mortgage market is driven by compassion, experience, and a deep commitment to providing consumers with the right mortgage products to meet their unique needs.”

John Reed, a co-founder of CUSO Home Lending in 1993 and at one time its President, CEO, and Board Chairman, noted the 30th anniversary with pride and confidence in CUSO’s future.

“I feel very fortunate to have been associated with some great peers with tremendous foresight, and to have been in a place and time to help co-found what is now the premier mortgage company in Maine and beyond,” shared Reed. “Congrats to CUSO Home Lending and celebrating 30 years serving Maine consumers with pride and distinction.”

Upon reaching this milestone, Michaud is looking ahead.

“It’s important to recognize all that we’ve achieve up to this point,” said Michaud. “It’s also important to build on that foundation and look to the future. I’m sure we’ll continue to encounter challenges facing homebuyers. We’ll be here to help families identify those challenges, ways to overcome them, and responsibly help families become homeowners.”