LUTHERVILLE, Md.—Financial Security Consultants (FSC) Inc., a mortgage CUSO that serves nine credit unions, announced that it will be shutting down at the end of 2018.
FSC has been in business for more than 20 years.
A spokesperson for the company declined to give specific reasons for the decision, other than “we are getting old.”
Sources told CUToday.info that the CUSO’s owner credit unions are now working to find a replacement for its mortgage origination services.
The FSC spokesperson told CUToday.info it has been in discussions with all of the member credit unions and all of them “understand” the decision to shutter the operation at year-end.