Kinecta Federal Credit Union
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Kinecta News

Media Contact:
Cathy Dominguez
FVP, Marketing and Corporate Communications
310.643.5597; CDominguez@Kinecta.org

KINECTA FEDERAL CREDIT UNION OPENS NEW MORTGAGE CENTER IN NEWBURY PARK, CREATING JOBS WHILE OFFERING MORTGAGE PRODUCTS

Expansion provides opportunities for residents and businesses

MANHATTAN BEACH, Calif., October 4, 2011 – Kinecta Federal Credit Union is pleased to announce the opening of a new mortgage center in Newbury Park, located at 2751 W. Hillcrest Drive, to serve the needs of San Fernando Valley, Ventura and Santa Barbara County residents. Kinecta is committed to continuing its 70-year legacy of providing trusted service and quality products to its members in the communities where they live and work.

The new mortgage center will be staffed by experienced mortgage loan professionals and will offer a variety of residential and commercial mortgages including government programs (FHA loans, HomePath® by Fannie Mae), conforming mortgages and super jumbo mortgages.

A competitive residential lender in the U.S. with loan origination capabilities spanning across 25 states, Kinecta had over $2.5 billion in home originations in 2010 and was able to help more than 6,000 members afford their homes by providing a range of fixed and adjustable home loans for purchase or refinance.  It offers attractive loan products through agency and portfolio lending, in addition to special loan programs offered in conjunction with leading mortgage insurance providers.  

The new mortgage center is another important step in the credit union’s plans to increase its footprint in the San Fernando Valley, Ventura and Santa Barbara counties. There are currently three Kinecta branches in those areas (Goleta, Warner Center and Westlake Village).

“While other financial institutions are exiting the real estate arena in the San Fernando Valley, Ventura and Santa Barbara counties, Kinecta is entering the market to serve the unique needs of area residents looking for a financial institution with a strong track record,” said Brian Robinett, Chief Credit Officer. “Unlike most financial institutions, Kinecta is not-for-profit: we work for the benefit of our member-owners. That truly sets us apart from the competition.”

“We are excited to be able to create jobs and provide economic benefits to the local community, which creates a win-win situation for homeowners, business partners, the city of Newbury Park, and Kinecta” said Mike McCarthy, Director, Retail Loan Production.

Kinecta is seeking to hire additional loan officers to fill the needs of the new facility. For information on career opportunities available at Kinecta, visit www.kinecta.org.

The Newbury Park Mortgage Center can be contacted by calling 866.350.0461, e-mailing vcmortgage@kinecta.org, or online at www.kinecta.org/NewburyPark.

About Kinecta Federal Credit Union
Kinecta Federal Credit Union (kinecta.org) is one of the nation’s largest credit unions, with approximately $3.4 billion in assets; 23 branches; 47 Nix customer service centers and 12 Kinecta branches at Nix locations; and over 230,000 members nationwide. Headquartered in Manhattan Beach, Calif., Kinecta was founded to serve employees of Hughes Aircraft Company and now serves employees from Boeing Satellite Systems, Raytheon Systems Company, DirecTV and other select employer groups.  Kinecta offers its members a full range of financial products through the Credit Union and its subsidiaries, Kinecta Financial & Insurance Services, Apollo Insurance Services, Inc., and Kinecta Alternative Financial Solutions, dba Nix Financial (nixcheckcashing.com).

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