BCU reaches $2 million status in CU Realty’s Million Dollar Club
HomeAdvantage from CU Realty Services helps Illinois-based CU make Homeownership more affordable by saving members $2 million with cash rewards
SCOTTSDALE, AZ (December 5, 2017) — Using HomeAdvantage®, the turnkey real estate program from CU Realty Services (CURS), BCU has hit another impressive milestone—providing over $2 million in Cash Rewards to their members! In 2016—in recognition of their work to make homeownership more affordable—BCU was one of eight credit union clients inducted into CURS’ inaugural “Million Dollar Club.”
BCU launched HomeAdvantage in 2011 with a goal to increase purchase mortgage volume by offering enhanced home buying and selling services and cash back benefits as a way to help members save money. For BCU, the program attracts and identifies members who are potential home buyers or sellers and then engages with them to nurture those relationships all the way through the closing process.
For members, HomeAdvantage provides a one-stop, home buying and selling experience. They can search for properties, find a real estate agent and earn HomeAdvantage Cash Rewards at closing using an approved agent. Cash Rewards are equal to 20 percent of the agent’s earned commission and save members an average of $1,570 per transaction nationwide. BCU has now saved its members more than $2 million in cash-back benefits.
“We are extremely excited that the program has been this successful,” said Bob Pondelicek, director of mortgage sales at BCU. “Being able to partner with CU Realty has proven to be invaluable. The HomeAdvantage team has helped us enhance our members’ overall experience by providing top-notch agents and a great online tool that offers customizable search options for each and every member who is buying or selling a home.”
Headquartered near Chicago, the credit union serves almost 234,000 members located in all 50 states and Puerto Rico. Since starting with the HomeAdvantage program, BCU has experienced:
– 7,820 Registrations
– 1,375 Closings
– $2,012,000 in Cash Rewards
– 81% Lending Rate
Pondelicek says their members have had an outstanding response to the robust HomeAdvantage program. “Earning a Cash Reward has helped many members reduce their out-of-pocket contribution to the closing transaction. It’s such a big benefit to many first-time home buyers who already have limited funds for closing, and it makes the transaction a little less stressful financially.”
HomeAdvantage, formerly CU Realty Services, provides real estate services that helps credit unions increase their purchase mortgage business while saving their mHomeAdvantage provides real estate services that helps lenders build their purchase mortgage business while saving their borrowers money when they close on a home. The company’s end-to-end real estate program is currently used by more than 125 credit unions and mortgage CUSOs across the country. Borrowers can use the program to search for homes, research neighborhoods and property values, connect with one of over 850 real estate agents in the network and save money when they close on a home. When lenders offer the program, they can attract and nurture more home-buying members, resulting in more purchase mortgage loans (with an average of an 80% pull through rate) and giveback to borrowers in the form of Cash Rewards.embers money when they close on a home. The company’s end-to-end real estate program is currently used by more than 125 credit unions and mortgage CUSOs across the country. Credit union members can use the program to search for homes, research neighborhoods and property values, connect with one of over 850 real estate agents in the network and save money when they close on a home. When credit unions offer the program, they can attract and nurture more home-buying members, resulting in more purchase mortgage loans and giveback to members. Visit www.homeadvantage.com to learn more.
BCU is a $2.5 billion full-service financial institution providing SEG and community banking to over 200,000 members in all 50 states and Puerto Rico. The fastest growing credit union in the last 30 years, BCU is regarded as having set new standards for bringing together technology and member service in the fast-changing world of financial services delivery. As an organization, BCU is committed to improving members’ financial well-being through the brand promise We’ve Got Your Back. Membership is open to several prestigious employers around the country and those living or working in Chicago-area communities.