Colonial Celebrates 70 Years Strong in 2022

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Mar 11, 2022, 08:00 ET

FORT WORTH, Texas, March 11, 2022 /PRNewswire/ -- Colonial Savings, F.A. is celebrating 70-years strong in 2022. The Colonial Family of Companies operates Banking Divisions across North Texas and Colonial National Mortgage provides mortgage financing nationwide. Their Credit Union Division, CU Members Mortgage, provides Credit Union Mortgage Services to credit unions across the country, while their award-winning Mortgage Services provides mortgage servicing to more than 130,000 customers, making them one of the largest mortgage servicers in the United States.

"We are honored to celebrate 70-years strong in 2022," said Jim DuBose, CEO, and Chairman. "We have had the pleasure of assisting thousands of individuals and families with their banking and home loan needs over the past seven decades. We've helped people grow their businesses, save for life's biggest moments and achieve their dreams of homeownership. We've given back to the community by bringing financial literacy education to schools and adults in underserved communities, through volunteer work and financial contributions."

Colonial was founded as Fort Worth Mortgage in 1952 by World War II veteran, James "Jimmy" DuBose, to provide residential home loans to the growing post-war communities of North Texas. What began as a two-person shop grew steadily over the next 20-years, fueled by DuBose's enthusiasm and relentless focus on one goal: To deliver the most competitive home loans with the most personal service.

In 1972, DuBose purchased Colonial Savings, a Savings & Loan located in Lewisville, Texas. He now had an expanded financial portfolio with which to operate, and he took immediate action. After moving Colonial Savings to Fort Worth, he grew the company to originate mortgages throughout the Southwest and beyond. At the same time, DuBose recognized the value of integrating the services he offered his customers. By providing banking and mortgages under one corporate roof, he gave his customers a more convenient method for handling their personal finances. The concept flourished.

Throughout its 70-year history, Colonial has faced challenges head-on, navigating the global financial downturn in the 1980's and the mortgage crisis in the late 2000's with sound lending practices and strong leadership, allowing Colonial to thrive.

Today, the Colonial Family of Companies is a comprehensive, national financial corporation with more than 650 employees, offering personal and business banking solutions in North Texas and mortgage services in all 50 states. With a mortgage servicing portfolio of approximately $26 Billion and total assets exceeding $1 Billion, Colonial is among the largest mortgage servicing companies in the country.

"Colonial has never lost sight of our company's core values of 'Empathy, Proficiency and Integrity,'" said David Motley, Colonial President. "For the past 70 years, Colonial has grown by embracing those core values, ensuring they have been woven into the very fabric of our organization. We believe in a customer-first approach when it comes to business and our unofficial motto of 'Families, Not Files' remains top-of-mind in all aspects of our business. Colonial continues to seek out the latest in mortgage and banking technology to ensure we remain competitive in today's digital world as we look forward to serving our customers for many years to come."

About Colonial
Founded in 1952 as Fort Worth Mortgage Corporation, today Colonial is a national, multi-service financial institution headquartered in Fort Worth, Texas. A federally chartered thrift, Colonial is one of the largest servicers of residential mortgage loans in the United States, with a servicing portfolio of $26 Billion. Colonial operates three mortgage origination divisions, Colonial National Mortgage, a leading retail mortgage lender; CU Members Mortgage, which provides mortgage services credit unions nationwide; and Community Bankers Mortgage, which provides mortgage origination and servicing to community banks as well as a network of eight consumer/commercial banks located throughout North Central Texas. The privately held company provides a full array of personal and business financial products and originates approximately $1.5 billion in FHA, VA, Jumbo, Conventional, Condo and innovative Single Close Construction loans annually. For additional information, please visit GoColonial.com.

SOURCE Colonial Savings, F.A.