Kinecta Federal Credit Union to Open New Mortgage Center in Orange County, Creating Jobs While Offering Mortgage Products

June 1, 2011

MANHATTAN BEACH, Calif., June 1, 2011 /PRNewswire/ — Kinecta Federal Credit Union is pleased to announce plans to open a new mortgage center in Newport Beach to serve the needs of Orange County residents. Kinecta is committed to continuing its 70-year legacy of providing trusted service and quality products to its members in the communities where they live and work.

The Manhattan Beach, California-based credit union has seen steady growth in its mortgage operation. To better serve Orange County residents, Kinecta is investing in opening a new 9,500 sq. ft. mortgage center located at 4041 MacArthur Blvd. Newport Beach, CA 92660.

It will be staffed by upwards of 30 experienced mortgage loan professionals and offer a variety of residential and commercial mortgages including government programs (FHA loans, HomePath® by Fannie Mae), conforming mortgages, super jumbo mortgages as well as commercial lending.

The new mortgage center is another important step in the Credit Union’s plans to increase its footprint in Orange County. There are currently four Kinecta branches in the area (Brea, Fountain Valley, Tustin and Westminster).

“While other financial institutions are exiting the real estate arena in Orange County, Kinecta is entering the market to serve the unique needs of area residents looking for a financial institution with a strong track record,” said Brian Robinett, Chief Credit Officer. “Unlike most financial institutions, Kinecta is not-for-profit: we work for the benefit of our member-owners. That truly sets us apart from the competition.”

“We are excited to be able to create jobs and provide economic benefits to the local community, which creates a win-win situation for homeowners, business partners, the city of Newport Beach and Kinecta” said Mike McCarthy, Director, Retail Loan Production.

Kinecta is a competitive residential lender in the U.S., with over $2.7 billion in home originations in 2010. Last year, Kinecta was able to help more than 6,000 members afford their homes through the expanded range of mortgage options they now offer.

Kinecta’s loan origination capabilities span 25 states. The Credit Union is a direct lender providing a range of fixed and adjustable home loans for purchase or refinance. It offers attractive loan products through agency and portfolio lending, in addition to special loan programs offered in conjunction with leading mortgage insurance providers.

The Credit Union is seeking to hire additional loan officers to fill the needs of the new facility. For information on career opportunities available at Kinecta, visit www.kinecta.org.

Kinecta Federal Credit Union is one of the nation’s largest credit unions, with approximately $3.5 billion in assets and more than 220,000 members nationwide. Headquartered in Manhattan Beach, Calif., Kinecta offers its members a full range of financial products through the Credit Union and its subsidiaries, Kinecta Financial & Insurance Services, Apollo Insurance Services, and Kinecta Alternative Financial Solutions, dba Nix Check Cashing. Kinecta Federal Credit Union is a not-for-profit, financial cooperative that is solely owned by its members. For more information about Kinecta’s Wholesale Mortgage Lending division, visit www.LoanKinection.com.

SOURCE Kinecta Federal Credit Union

Source: newswire

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