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FOR IMMEDIATE RELEASE
Wescom Credit Union Acquires CUSO Mortgage, Inc.
Acquisition Offers Credit Union-Owned
Mortgage Services Solution for Credit Unions
Pasadena, Calif. – October 12, 2006 Wescom Credit Union has acquired CUSO Mortgage,
Inc., one of the nation’s premier providers of mortgage services for credit unions. The acquisition
allows Wescom to offer a comprehensive, industry-wide mortgage solution for credit unions of
all sizes. CUSO Mortgage will continue to operate under its business name.
Established in 1986, CUSO Mortgage has been delivering credit union mortgage services to
credit unions for 20 years, focusing on superior service, competitive rates and minimal fees. Now,
as a credit union-owned entity, CUSO Mortgage will continue to offer credit unions the ability to
meet the real estate mortgage needs of their members. The company will continue to offer its
current array of diverse products and services including origination, processing, underwriting,
closing, portfolio loan servicing, and selling of credit union loans on the secondary market, and
will introduce new enhancements in the future.
“By joining forces, CUSO Mortgage and Wescom intend to strengthen the important business of
assisting credit unions nationwide with mortgage originations,” said Jamey Cohen, president and
CEO of CUSO Mortgage, Inc. “We look forward to working with Wescom to provide the best
possible mortgage services to the credit union industry.”
“CUSO Mortgage, Inc. has been built on a strong foundation of service to our industry and this
purchase will allow us to leverage our infrastructure in a way that will benefit not only Wescom,
but credit unions across the country who are CUSO Mortgage clients,” said Darren Williams,
president and CEO of Wescom Credit Union. “Wescom’s acquisition of CUSO Mortgage ensures
that credit unions will have a credit union-owned mortgage services solution that is
philosophically aligned with the credit union movement. We believe it is important for credit
unions to know that they can look within our industry and not be required to look beyond the
credit union community to provide all the financial services needs of their members.”
CUSO Mortgage, headquartered in Roseville, Calif. currently serves 80 credit unions and
approximately two million credit union members nationwide. Cohen will continue to serve as
president of CUSO Mortgage, Inc.
Wescom Acquires CUSO Mortgage, Inc./2-2-2
WESCOM CREDIT UNION is one of the largest credit unions in the country with more than $3.6 billion in assets. It
is a not-for-profit, financial services cooperative serving 285,000 members at 46 branches throughout Southern
California. Credit Union members have access to more than 25,000 free ATMs nationwide and a wide range of
financial services, including free checking and free online bill paying. Membership is open to people living and
working in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara, San Diego and Ventura counties. Wescom
was established in 1934 as a credit union for telecommunications employees.