Press
Meadows Credit Union, CU Realty Partner to Save Members Time and Money When Selling or Buying a Home
Scottsdale, Ariz. and Arlington Heights, Ill. (Oct. 26, 2012) – Through a new partnership with CU Realty Services, Meadows Credit Union has begun providing members with an online real estate program. Now, members have added convenience when searching for a home and Realtor® as well as opportunities to save money on closing costs.
“With the housing market making a recovery, members are starting to think more about buying or selling. This is the time to grow our purchase mortgage business,” said Ted Niedbalec, Director of Mortgage Services for the $110 million Meadows Credit Union. “We talked to other credit unions that have partnered with CU Realty Services and were impressed with the success they have had.”
The web-based package provides members access to a network of approved agents, who take lower commissions – to reduce closing costs for members. By encouraging members to use the CU Realty program right from the Credit Union’s website, Meadows CU will be its members’ FIRST POINT OF CONTACT® in the home buying or selling journey. That, in turn, makes it more likely that the Credit Union will originate the mortgage loan.
“Our easy-to-use, straightforward program gives credit union members quick access to tools and resources to simplify the process of buying or selling a home,” said Mike Corn, CEO of CU Realty Services. “For those who are buying a home, using an agent in the credit union Realtor network keeps them in the lead channel so that the credit union keeps their mortgage business.”
Corn says credit unions that participate in the program report significant increases in their purchase mortgage business – some by as much as 40 percent. Meadows CU is the second partnership in Illinois for CU Realty Services. Because the Company already had a partnership with another Illinois credit union, BCU (formerly Baxter Credit Union) in Vernon Hills, Ill., the process for other credit unions in the state to join the program is easy.
Before launching the program last month, Meadows CU marketed the new features via printed flyers, lobby signs and website updates as well as a mass email and postings on Facebook and Twitter. CU Realty Services provided staff training through webinars.
For more information about the CU Realty Services program, visit www.curealty.com.
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 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, (800) 203-9014, ext. 104, or visit www.curealty.com.
About Meadows Credit Union
Meadows Credit Union, headquartered in Arlington, Illinois, serves 12,000 members in the Chicago area. MCU is committed to helping its members achieve the lifestyle they want for today as well as their dreams for the future. The CU offers a full-range of savings, checking, investment and loan services. For more information, please visit www.mcuonline.com.