A credit union in the region hired a new leader to oversee its mortgage lending division.
Kalamazoo-based Consumers Credit Union said it hired David Pendley as its new vice president of mortgage lending at the credit union.
Pendley replaces longtime mortgage leader John Murphy, who is retiring from Consumers with plans to do independent consulting work.
Pendley brings more than 35 years of mortgage experience to Consumers with “a desire to mix prudent lending and strong growth with above excellent member service,” according to the credit union.
“Our team is leading the way in home sales and realtor partnerships,” said Steve Owens, chief lending officer at Consumers. “Pendley’s servant leadership with sales success will be a boost to members and our community.”
Pendley started his career in mortgage origination as a mortgage loan officer before founding his own mortgage banking firm in Illinois, Avenue Mortgage Corporation, which he ran for over 23 years. He sold the business and joined the credit union space in 2018 as VP of mortgage lending for Landmark Credit Union in New Berlin, Wisconsin.
“Mortgage origination has been my life’s work,” Pendley said. “Credit unions have a core value of serving people. Being able to serve our members on one of the most important purchases in their life is so fulfilling. I’m thrilled to join Consumers’ team of mortgage professionals.”
The mortgage lending department at Consumers has seen double-digit increases in each of the past eight years. Loan originations are up nearly 100% year over year amidst the current wave of refinances. Nearly all loans originated at Consumers in 2020 were cleared to close within 30 days.
Consumers Credit Union
Founded in 1951, Consumers Credit Union offers personal and business banking services.
It currently serves over 100,000 members through 20 offices in Kalamazoo, Battle Creek, Grand Rapids, Coldwater, Holland and South Haven.
The credit union has averaged 18% growth annually for more than 35 years.
Consumers has more than $1.2 billion in assets.