UMassFive is pleased to announce that Lauren E Duffy, UMassFive’s Executive Vice President and Chief Operating Officer (COO) and 2019 honoree of Business West’s “40 Under Forty”, has been recently appointed to the Board Chair position of the Credit Union Service Organization (CUSO) Member Advantage Mortgage LLC (MAM)—a company owned and operated by credit unions across the country to provide major-lender options for home financing.
Understanding that home ownership can be a critical component to building wealth for any individual or family, UMassFive has built and sustained a purposeful partnership with MAM after investing in the CUSO in 2009 to bring better home loan and refinancing options to their members. In fact, UMassFive is the single largest volume loan producer of all MAM credit union investors, making up more than half of their volume year over year.
“The Credit Union is thrilled to have Lauren assume this role and further our relationship with MAM,” said UMassFive President and CEO, Rich Kump. “Over her nearly 16-year career here at UMassFive, Lauren’s wealth of knowledge in so many areas of the Credit Union has granted her a valuable and unique perspective that she continues to use to serve our members. Having her expertise now overseeing MAM allows us greater input on the strategic direction for an organization already serving so many of our members, and it helps ensure accountability to our member’s needs and long-term success.”
The MAM Board’s official charge is to set the strategic direction and execute its fiduciary responsibility on behalf of the credit union members’ investment in the company. This includes oversight of compliance policies and financial audits. As Board Chair, Duffy will help set the agenda for the Board’s focus and work closely on strategy and business development with MAM CEO, Jeff Leep.
“Member service is our top priority,” said Leep. “Today’s homebuyers demand easy and convenient access to information at all times, but also want the confidence of a trusted advisor to help them make the best decision. Our relationship with UMassFive has been instrumental in guiding our innovation roadmap and creating an overall lending platform capable of helping credit unions be the go-to source for their members’ home financing needs.”
While MAM remains focused on their mission of making the mortgage experience as streamlined as possible for the credit union members it serves, UMassFive looks forward to Duffy championing their voice in the conversation.