KETTERING, Ohio–One credit union’s success in making mortgages has drawn some local media attention.
Day Air Credit Union reported it originated more than $100 million in mortgages for nearly 700 borrowers in its Miami Valley, Ohio markets.
Both mortgage volume and total loan dollars surged last year, surpassing the credit union's previous record of $60 million in 2012, the Dayton Business Journal reported.
Day Air Credit Union told the publication the upswing coincides with growth of its mortgage production team, and it now has five dedicated real estate mortgage originators on its staff.
The credit union further credited historically low mortgage rates along with increased brand awareness due to the Day Air Ballpark naming rights deal for helping to push volumes even higher in 2020.
"At Day Air, we measure success by how many people we’ve helped," SVP and Chief Lending Officer John Theobald said in a statement quoted by the publication. "Achieving over $100 million in mortgage origination means we improved the lives of a lot of people in the Miami Valley."
Reaching Underserved Communities
The credit union said it originated loans throughout the southwest Ohio region, including several underserved and low- to moderate-income communities.
Day Air reported its average loan amount in 2020 was $149,000. The credit union said it experienced a "normal bell curve of activity," albeit much higher than in years past due to positive market conditions for homebuyers, the Dayton Business Journal reported.
The credit union added it ended 2020 on a strong note, originating $10.2 million in mortgage loans in December.
The $520-million Day Air CU has more than 46,000 members.