Four Credit Unions Partner with CU Realty Services to Boost Purchase Mortgage Volume
SCOTTSDALE, Ariz., May 4, 2017—As the housing market continues to gain momentum and the need for home loans grows, more and more credit unions are seizing the opportunity to boost their purchase mortgage business. HomeAdvantage®, a turnkey real estate program from CU Realty Services—the largest real estate CUSO in the U.S.—is making that happen for these four new clients:
- Community Credit Union of Florida (Rockledge, Fla.)—118,000 members, $$608 million in assets
- CUSO Mortgage (Anaheim, Calif.)
- ALEC Federal Credit Union (Gurnee, Ill.)—31,000 members, $700 million in assets
- Washington Gas Light Federal Credit Union (Springfield, Va.)—Just under 10,000 members, $$99 million in assets
HomeAdvantage provides members with online access to real estate tools and support they need to buy and sell their homes: online property listings, recent sales data, neighborhood demographics, a network of reputable real estate agents and more. By offering these features, credit unions are empowered to reach, identify and engage more home buying members, much earlier in their real estate journey. The results of which have shown a 40 percent lift in mortgage closings!
Headquartered in Fairfax, Virginia, the credit union serves more than 185,000 members The program also provides savings to members at closing through HomeAdvantage Cash Rewards. When members use a real estate agent in the HomeAdvantage network, they qualify to earn a cash-back benefit equal to 20 percent of the agent’s commission. In 2016, HomeAdvantage gave back almost $5.5 million in Cash Rewards to members, averaging $1,561 in savings per transaction.
“We are pleased to add these four new credit unions to our client roster,” said Tina Powers, chief operating officer at CU Realty Services. “Implementing the HomeAdvantage program is always exciting because it marks the beginning of change for both the CU and its members.”
About CU Realty Services, LLC
CU Realty Services provides real estate services to credit unions across the nation, helping them increase their purchase mortgage business. Launched in 2001, the CUSO has worked with more than 100 credit unions and thousands of their members. CU Realty’s range of web-based tools helps home buyers find homes, research neighborhoods, calculate costs, connect to experienced real estate agents, and earn a cash reward. By offering this program to members, credit unions are able to achieve significant increases in their purchase mortgage business.
CU Realty Services partners with hundreds of credit unions and mortgage CUSOs in 24 states. To learn how credit unions are becoming members’ first point of contact, visit www.curealty.com.