About CUSO

Our Mission

At CUSO Home Lending, our mission is to be a leader in providing lending and related financial solutions by meeting the needs of consumers and business owners in collaboration with the credit union community. We are deeply rooted in serving our local communities and strive to empower both credit union members and the broader community with a comprehensive array of home financing options. As a local lending authority, we understand the unique needs of our neighbors. Whether you’re a first-time homebuyer, seeking refinancing, or exploring specialized loan programs, our commitment is to deliver these services with unmatched professionalism, competitive rates, and exceptional customer service.

Our Story

In 1993, Credit Unions identified a pressing need for mortgage lending solutions tailored to their members in Maine. This collective realization led to the formation of CUSO Home Lending. Founded by a coalition of Maine credit unions, CUSO was established with a clear purpose: to bridge the gap in accessible financing options for both credit union members and the broader community. Our roots are deeply intertwined with the values of community and member-first service that credit unions embody.

Recognizing the challenges many faced in securing reliable and fair mortgage solutions, CUSO emerged as a beacon of trust and collaboration. Being owned by credit unions ensures that every decision we make aligns with the best interests of our clients and our communities. Over the decades, our reach has grown, extending our services to communities in New Hampshire and Florida. From conventional fixed-rate mortgages to specialized state-backed programs, our history is a testament to our unwavering commitment to making homeownership attainable for all.

Our Leadership

Originally from Aroostook County in northern Maine (the largest land mass county east of the Mississippi River), Lori Michaud is exactly the right person to lead one of the region’s largest mortgage lenders.

During her more than 30 years in the profession, Lori has juggled and dealt with all the concerns and shared the same joys as her clients. With her family, which includes her husband, two sons, and three grandchildren, she’s been an active member of her local community, bought a home, supported local school activities, and faced the economic highs and lows that affect everyone.

While Lori is well known and appreciated locally for both her professional expertise and her volunteerism, she is also nationally recognized and respected as an industry leader whose dedication to the profession consistently puts clients and their needs first.

Lori has been with CUSO since it began servicing mortgages in 1993 and has been part of the leadership team for more than 25 years. She’s also served in leadership positions at various non-profits and professional organizations for which she volunteers. Lori is drawn to causes that help others.

When not working or volunteering, you’re likely to find Lori satisfying her curiosity by traveling, or just hanging out at home by the fire-pit with family and friends, feeding them good food from her kitchen.

As much as she’s achieved over the course of her career, Lori says she’s most proud of her family. Watching her sons grow up, and now enjoying her grandchildren gives her the greatest sense of accomplishment. She brings that feeling to work every day. Lori wants to help as many families as possible find that sense of security and stability by helping them to own their home.

Lori Michaud, CEO

It's Been Our Privilege To...

Serve more than
Credit Union Partners Anually
Service more than
Be a
Lender in the State of Maine
Your journey began with a promise. Your new home should too.
CU Promise Loans are the perfect marriage of accessibility and flexibility. You can even be pre-approved! Plus, with the CU Promise 10% Down, No PMI option, you get more house for your money!

Client Testimonials

Customer Satisfaction Is Our Priority – You can trust and depend on our reviews from your local neighbors!
"From the initial quote to closing day, it was a pleasure to work with Dawn. She laid out a realistic estimate of closing costs, explained loan options in clear terms and was patient when we hit various hurdles. She gave me every reason to be confident that the loan would go through and indeed delivered on that promise, relieving me of a lot of stress."
Flore D
Home Buyer, October 2023
Ready for personalized mortgage guidance?
Our team is on standby to discuss your options and provide the answers you need for a smooth homeownership journey.

Common Questions

Payments and Billing

You can submit premium bills in two ways:
    • Mail them to: CUSO Home Lending Attn: Servicing PO Box 663 Hampden, ME 04444
    • Email them to service@cusohl.com
We provide several payment methods. Please contact our Customer Service Department at 1-800-360-2876 for payment assistance:
  • Electronically via our Servicing Digital website.
  • ACH payments automatically withdrawn from your chosen checking or savings account.
  • Check payments mailed directly to CUSO Home Lending.
  • Phone payments (a $10 fee applies per payment).

Documentation and Statements

You can easily access your year-end tax information through your Servicing Digital account under Account Management > Document Center.

Additionally, CUSO will mail you a hard copy prior to January 31st.

Mailing Address and Contact Information

For US mail:
  • CUSO Home Lending
  • PO Box 663
  • Hampden, ME 04444
For overnight delivery:
  • CUSO Home Lending
  • 101 Western Avenue
  • Hampden, ME 04444

Mortgage Insurance

PMI protects lenders and others against financial loss when borrowers default. Charges for the insurance are added to your loan payments. Under certain circumstances, federal law gives you the right to cancel PMI or requires that PMI automatically terminate. Cancellation or termination of PMI does not affect any obligation you may have to maintain other types of insurance.

Yes, you can request PMI cancellation on or after either of these dates:

  1. The date the principal balance of your loan is first scheduled to reach 80% of the original value of the property or
  2. The date the principal balance actually reaches 80% of the original value of the property.

PMI will only be canceled on these dates if:

  • You submit a written request for cancellation
  • You have a good payment history;
  • You are current on the payments required by your loan; and
  • We receive, if requested and at your expense, evidence that the value of the property has not declined below its original value and certification that there are no subordinate liens on the property.

A “good payment history” means no payments 60 or more days past due within two years and no payments 30 or more days past due within one year of the later of (a) the cancellation date, or (b) the date you submit a request for cancellation.

“Original value” means the lesser of the contract sales price of the property or the appraised value of the property at the time the loan was closed. If this loan refinanced an existing loan secured by the property, “original value” means the appraised value relied on by the lender to approve this loan.

Additional Questions

For insurance loss-related repairs, please provide us with the following documents:
  • A copy of the insurance adjuster report for itemizing loss and coverage.
  • A copy of your contract to complete the repairs.
  • The original loss draft check payable to CUSO and the borrower — these funds are held by CUSO and disbursed as work is completed.
CUSO offers specialized mortgage programs tailored for first-time homebuyers, such as FHA Loans. These programs come with favorable terms, making homeownership more accessible. Learn more about our first-time homebuyer programs.
Refinancing can offer lower interest rates or reduced loan terms. Consider your current financial situation, the remaining loan balance, and potential closing costs. Explore our refinancing options to see if it’s right for you.

For any other questions or personalized assistance, please contact our dedicated support team.