Los Angeles Police Federal Credit Union shares benefits of real estate services for credit unions in new video
SCOTTSDALE, AZ (September 23, 2014) — CU Realty Services released a new video featuring Los Angeles Police Federal Credit Union giving an “insider’s look” at the CUSO’s HomeAdvantage™ real estate program. The $794 million Credit Union partnered with CU Realty in 2013 in an effort to grow its purchase mortgage business when the refinance boom began to wane.
“We believe mortgages are the crown of our financial institution’s product line, as they truly aid in the development of good member relationships,” said Carol Martin. LAPFCU’s COO. “CU Realty’s HomeAdvantage package really enhances our mortgage program, giving the extra sizzle needed to get members’ attention.”
The video highlights LAPFCU’s experiences using HomeAdvantage, featuring testimony from Martin, Vice President of Marketing Manny Padilla, and Loan Processor Cynthia Maciel.
The HomeAdvantage program positions credit unions as their members’ first point of contact in the home-buying process by coupling the credit union’s existing mortgage program with the online resources that homebuyers use at the beginning of their home search. Using HomeAdvantage, members can research neighborhoods, find properties and select a Realtor all online via their credit union’s co-branded HomeAdvantage portal. As an added member incentive, those who buy or sell their home using one of the programs pre-approved Realtors can earn rebates equal to 20 percent of that agent’s commission, averaging $1,545. That’s a big draw to the program, according to Martin.
“The program not only helps ensure long-term relationships with our members, it also has a positive impact on our bottom line,” she said.
According to CU Realty President/CEO Mike Corn, that’s the real benefit of HomeAdvantage. “It’s about growing relationships and growing purchase mortgage volumes. They go hand in hand.”
To view the video or learn more, visit www.curealty.com/lapfcu or call (800) 203-9014 ext. 104.
About Los Angeles Police Federal Credit Union
Los Angeles Police Federal Credit Union (LAPFCU) was founded in 1936 and is based in Van Nuys, California. It serves the financial needs of the sworn and civilian employees of Los Angeles City Police, their families and select police-related groups. The Credit Union, with assets of $777 million, currently serves 42,000 members through an expansive roster of savings and loans products and services. For more information, call Manny Padilla, Jr., (818) 779-3311 or visit www.lapfcu.org.
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 homebuyers find homes, research neighborhoods, calculate costs, connect to experienced real estate agents, and earn a rebate. By offering this program to members, credit unions are able to achieve significant increases in their purchase mortgage business. For more information, call Tina Powers, (800) 203-9014 ext. 104, email email@example.com, or visit www.curealty.com or www.mycuhomeadvantage.com.