Our Mission
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
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Common Questions
Payments and Billing
Where should I send my real estate tax and homeowners insurance premium bills?
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- Mail them to: CUSO Home Lending Attn: Servicing PO Box 663 Hampden, ME 04444
- Email them to service@cusohl.com
What payment options does CUSO offer?
- 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
How can I access my 1098/1099 End of Year Statement information?
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
What is CUSO’s mailing address?
- CUSO Home Lending
- PO Box 663
- Hampden, ME 04444
- CUSO Home Lending
- 101 Western Avenue
- Hampden, ME 04444
Mortgage Insurance
What is Private Mortgage Insurance (PMI)
Can I request PMI cancellation?
Yes, you can request PMI cancellation on or after either of these dates:
- The date the principal balance of your loan is first scheduled to reach 80% of the original value of the property or
- 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
I've encountered an insurance loss. How do I proceed with repairing my home?
- 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.
How can I benefit as a first-time homebuyer with CUSO?
What should I consider when refinancing my home with CUSO?
For any other questions or personalized assistance, please contact our dedicated support team.
