CU Realty Services Passes 10 Years, Helps Credit Unions Grow Mortgages
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CUSO and participating credit unions collectively save members more than $10 million
Scottsdale, AZ (June 12, 2012) – CU Realty Services, LLC, a CUSO based in Scottsdale, Ariz., is celebrating more than a decade of service to the industry. The CUSO offers a turnkey real estate services program to help credit unions increase their purchase mortgage business. Over its decade-long history, the firm has worked with more than 100 credit unions in 19 states and 49 metro areas, recruited and trained more than 400 real estate agents, and has generated more than $10 million in total cost savings to credit union members.
Mike Corn, CEO, who co-founded CU Realty Services with real estate broker Craig Davis, developed the idea for the CUSO from experiences he had while buying and selling a home.
“The roots go back to 1998 when I was working with an agent to find a new home and sell my existing home,” Corn explained. “Craig and I started talking about how much easier it would be if you could put your home search on the web – let consumers study properties, give access to inspectors title companies, and so forth. We could see it saving consumers a lot of money, and they would probably prefer it. And remember, 10 years ago, there were no web-based home searches, no Realtors®’ online search sites.”
Launched in 2001, CU Realty Services was one of the first in the country to offer Internet home searches. Since then, this trend has grown, representing a major shift in how buyers and sellers connect. Today, almost half of all searches begin online, according to the 2011 National Association of Realtors® Profile of Home Buyers and Sellers.
Just this past year, CU Realty helped credit union members who bought or sold their homes through its agent network save a collective $1.8 million – equating to approximately 20 percent of real estate commissions. At the same time, the CUSO’s credit union partners have increased their purchase-mortgage business, some by as much as 40 percent.
“Our success has come from helping our partner credit unions become the first point of contact for members buying or selling a home,” said Corn. “That helps to build stronger relationships with their members. In addition, our network of trained, qualified Realtors® helps to generate more business for the credit unions.”
To help ensure credit unions are getting in front of members wanting to buy or sell a home, CU Realty offers a complete package of services that is mutually beneficial to all parties. It allows buyers to search listings and find pre-screened agents, while providing credit unions with interested borrowers and connecting agents with pre-qualified leads.
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.