A new report ranks the country’s credit unions by the volume of first mortgage loans that were originated last year.
During 2012, credit unions closed 742,224 residential first mortgages — including purchase financing and refinances. That worked out to $124.079 billion in dollar volume.
The 300 biggest credit unions accounted for 69 percent of all credit union originations based on the number of loans and 78 percent based on dollar volume.
The statistics were reported by the American Credit Union Mortgage Association based on data provided by Callahan and Associates.
At the top of the list was Navy Federal Credit Union, which originated 43,901 loans for $10.307 billion.
Next was Kinecta Federal Credit Union, where 12,059 first mortgages were closed for $3.823 billion.
No. 3 Pentagon Federal Credit Union generated production of 12,471 loans for $3.378 billion.
At Alaska USA Federal Credit Union, 7,935 loans originated for $1.773 billion landed it in the fourth spot.
With 4,552 first mortgages funded for $1.765 billion, Star One Credit Union ranked as the fifth-biggest mortgage lender in the sector.
In the sixth spot was State Employees Credit Union, with 12,863 loans originated for $1.705 billion.
After that was First Tech Federal Credit Union with 6,626 loans closed for $1.678 billion.
No. 8 Bethpage Federal Credit Union had 4,741 loans closed for $1.459 billion, followed by BECU’s 7,740 loans for $1.441 billion and Lake Michigan Credit Union’s 9,137 first mortgages funded for $1.345 billion.
