Margaret Blankers
MJB Public Relations Group, LLC
913.385.2222 or 866.714.7041
margaret@mjbpr.com
Credit Union aims to step up purchase-mortgage business with help from area Realtors®
Woodbridge, Va. (May 29, 2012) – Belvoir Federal Credit Union was looking for an innovative way to grow its mortgage business while also providing members helpful service. How? Become the first point of contact for members wanting to buy or sell a home by joining with CU Realty of VA, MD, DC and WV, LLC – a CUSO affiliated with CU Realty Services, LLC, based in Scottsdale, Ariz.
“We’re pleased to offer the CU Realty program, because it will help increase Belvoir Federal’s mortgage market share because it puts the Credit Union at the start of the home-buying or selling process,” said Tisha Wallace, Chief Operating Officer for the $290 million Credit Union. “Even more, CU Realty is designed to save members some 20 percent in agent commissions.”
CU Realty helps credit unions increase their mortgage book of business through a turnkey, web-based program that acts as an active lead channel when members are ready for financing.
“Instead of coming in at the end, when members are looking for a lender, credit unions can be the first contact point,” said Mike Corn, Chief Executive Officer of CU Realty Services, which developed the program. “Through CU Realty, credit union members can research neighborhoods and homes online, choose from a network of qualified real estate agents, and save money in the process.”
According to Michelle Sandy, Managing Director of the CUSO, CU Realty is excited to partner with Belvoir Federal. “The Credit Union will be able to offer a unique and valuable service to their member-owners. Belvoir Federal’s enthusiasm toward CU Realty is evident as they have worked diligently to create a plan for marketing the program, as well as providing training to staff on its benefits.”
Belvoir Federal’s Wallace anticipates that using CU Realty will give a boost to the purchase-mortgage business. “It may seem surprising, but like many credit unions that have offered mortgages for a long time, a lot of our members still don’t know we provide this service,” she said. “We think CU Realty will help us reinforce the benefits of our mortgage services.”
Jason Lindstrom, Belvoir Federal’s Chief Marketing Officer, agrees. He says the Credit Union has already launched the CU Realty program on its website and plans to use email marketing and other promotional efforts to promote it.
“We’re having a financial fitness seminar later this month that will include introducing this new service,” Lindstrom said. “It’s sort of a coaching program to cover the basics, such as helping members maintain their bills and learn how to raise their credit scores. We’ll also show members how CU Realty works and will bring in a representative from CUMA [Credit Union Mortgage Association] to discuss Belvoir Federal’s mortgage program.”
CUMA’s recommendation of CU Realty helped the Credit Union decide to adopt the program. “Their word-of-mouth endorsement meant a lot,” Wallace said. “They were very enthusiastic.”
Scott Toler, Chief Executive Officer of CUMA, says he’s a big promoter of CU Realty. “It’s good for members because they can take advantage of a network of real estate agents who know credit unions, know their communities and can be trusted. Even more, members can save money - how can you lose?”
Toler said CU Realty has become very popular among CUMA’s clients, and participating Realtors like it, too. “We have one husband-and-wife agent team who closed 52 transactions in 2011 – that’s a transaction a week!”
About CU Realty Services
CU Realty Services provides real estate services to credit unions across the nation, helping them increase their purchase mortgage business. Launched in 2001, the company has worked with more than 100 credit unions and thousands of their members. CU Realty’s range of web-based tools helps homebuyers find homes, research neighborhoods, calculate costs and connect to experienced real estate agents. For more information, call Tina Powers at (800) 203-9014, ext. 104, or visit www.curealty.com.
About CU Realty of VA, MD, DC LLC
CU Realty of VA, MD, DC LLC is a credit union service organization (CUSO) formed to help participants increase first mortgage business through branded positioning as a one-stop real estate resource for home buyers; providing complete real estate brokerage services and significant cash rebates to credit union members. For more information, visit www.curealtyllc.com