Credit Union 1 Surpasses $1 Billion in Commercial Real Estate Originations

Real EstateFinance

Jun 20

CU1 Commercial Real Estate Team ● Photo Credit: Credit Union 1

LOMBARD, Ill., June 21, 2024, (VSNewsNetwork.com) - Credit Union 1 (CU1) has announced that its Commercial Real Estate Team has surpassed $1 billion in loan originations. This significant achievement marks a milestone in the credit union's commercial lending efforts nationwide.

The CU1 Commercial Real Estate Team has been recognized as one of the Top 10 Credit Union Commercial Real Estate Teams in the United States. Since its establishment four years ago, the team has experienced consistent growth. Charlie Atzmiller, Vice President of Commercial Lending at CU1, commented on the team's progress: “Passing this benchmark is a noteworthy accomplishment, particularly for a credit union of our asset size.”

Credit Union 1 has built a substantial presence in the commercial real estate sector, providing a range of competitive loan options with no prepayment penalties. Recent significant loans include $1,155,000 for a quick-service restaurant in Vineyard, Utah, $10,125,000 for an industrial building in Alta Vista, Virginia, and $16,500,000 for a multi-family building in Arvada, Colorado.

According to Credit Union 1, collaboration with its Credit Union Service Organization (CUSO) has supported effective underwriting practices, maintaining zero delinquencies within its portfolio. The credit union continues to play a leading role in the commercial real estate loan participation market, primarily as a seller.

Todd Gunderson, President and CEO of Credit Union 1, reiterated the institution's commitment to local communities: “Credit Union 1 is committed to the financial success of the individuals, families, and communities we serve. By supporting businesses through commercial lending, we can contribute to the growth and economic success of these communities.”

For more information on Credit Union 1’s commercial real estate lending offerings, visit www.creditunion1.org.

Source: Credit Union 1 via Newswire