State Financial Network, Broomhall, Penn., a credit union-owned mortgage banking firm, has promoted Michael Magnavita, its chief financial officer, to the position of president and CEO. John Unangst, current president of the company who also heads nearby Franklin Mint Federal Credit Union, will continue to serve as chairman of the board. State Financial is a wholly owned CU Service Organizations for the $600 million credit union with a mortgage servicing portfolio of more than $500 million.
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