Credit unions on both coasts celebrate saving members $1 million through CU Realty Services’ HomeAdvantage program
Florida-based FAIRWINDS Credit Union and California-based Redwood Credit Union are the newest members of CU Realty Services’ Million Dollar Club
SCOTTSDALE, AZ (November 13, 2020) — Credit unions on both coasts are celebrating saving their members more than $1 million when they buy and sell homes through the HomeAdvantage® program from CU Realty Services. Florida-based FAIRWINDS Credit Union and California-based Redwood Credit Union are the newest members of CU Realty Services’ Million Dollar Club. Twelve credit unions across the United States are part of this exclusive club, having reached the impressive threshold of returning more than $1 million in Cash Rewards to members.
“We’re very proud to welcome these new credit union partners into the Million Dollar Club and honor their dedication and exceptional work in helping members meet their homeownership goals,” said Mike Corn, CEO of CU Realty Services. “To date, more than $50 million in Cash Rewards has been given back to credit union members. Making homeownership more affordable is the heart of why CU Realty Services was created twenty years ago this year.”
The HomeAdvantage turnkey real estate marketing platform helps credit unions retain more of their members’ purchase mortgage business. The frontend offers tools that attract members at the beginning of their home-buying journey while the backend systems and personal touchpoints nurture them until they are ready to transact. When credit union members enroll in HomeAdvantage, they are connected with certified real estate agents who are vetted and trained to keep HomeAdvantage’s credit union partners top-of-mind for members. When members work with a HomeAdvantage agent, they earn an attractive cash-back benefit at closing called HomeAdvantage Cash Rewards. Credit unions experience significant increases in their average purchase mortgage pull-through rate as a result of loyal agent relationships combined with the HomeAdvantage nurturing protocols.
With over 370,000 members and $5.8 billion in assets, Redwood Credit Union is the 38th largest credit union in the United States. Redwood implemented the HomeAdvantage program in 2010, and its members earn an average Cash Reward of $2,900 per real estate transaction.
FAIRWINDS Credit Union, one of Florida’s largest credit unions with nearly 200,000 members and $3 billion in assets, implemented the HomeAdvantage program in July of 2013. In the last 12 months alone, FAIRWINDS has helped their home-buying and home-selling members save $136,000 in the form of HomeAdvantage Cash Rewards. On average, FAIRWINDS members earn $1,600 in Cash Rewards per transaction.
“The savings passed on to members through HomeAdvantage and FAIRWINDS is another avenue where we can help members work toward achieving financial freedom,” said Dan Felix, Assistant Vice President of Mortgage Lending/Mortgage Services at FAIRWINDS Credit Union. “In addition to the savings of Cash Rewards, we’ve established valuable relationships with HomeAdvantage agents who share our commitment to helping members save even more.”
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.
FAIRWINDS Credit Union, headed by President and CEO Larry Tobin, is headquartered in Orlando and is consistently ranked as one of the best credit unions and employers in the region.
At FAIRWINDS, we believe that financial freedom is freedom to go further – whether that means putting a child through college, retiring early or starting a new business. As such, we are the financial partner that doesn’t want our members to have debt. FAIRWINDS empowers members to pursue and achieve their personal and business goals by offering products and services that promote healthy spending and saving habits. Start the path to Financial Freedom by calling (800) 443-6887 or visiting Fairwinds.org.
About Redwood Credit Union
Founded in 1950, Redwood Credit Union is a full-service financial institution providing personal and business banking to consumers and businesses in the North Bay and San Francisco. RCU offers complete financial services including checking and savings accounts, auto and home loans, credit cards, online and mobile banking, business services, commercial and SBA lending, and more. Wealth management and investment services are available through CUSO Financial Services L.P., and through RCU Services Group (RCU’s wholly owned subsidiary), insurance and auto-purchasing services are also available. RCU has $5.8 billion in assets and serves approximately 370,000 members with full-service branches from San Francisco to Ukiah. For more information, call 1 (800) 479-7928, visit redwodcu.org, or follow RCU on Facebook, Instagram, and Twitter for news and updates.