CU Realty Services is recognizing the efforts of two credit union clients—Wright-Patt Credit Union and Partners Federal Credit Union—for saving members money through the HomeAdvantage® program. HomeAdvantage is the turnkey real estate program from CU Realty Services—the largest real estate CUSO in the U.S.
The Million Dollar Club recognizes credit unions that have saved their home-buying and home-selling members $1 million or more in the form of HomeAdvantage Cash Rewards. Members earn the cash-back bonus from buying or selling a home using a real estate agent in the HomeAdvantage network. The value is equal to 20 percent of the agent’s earned commission.
Wright-Patt implemented HomeAdvantage in 2010 with a goal to increase purchase mortgage volume and deepen member relationships. By 2016, the CU had saved home-buying and home-selling members $1 million, earning a place in CU Realty’s Million Dollar Club. Now, just two years later, the Ohio-based credit union has reached an even bigger milestone in the club: $2 million status.
Partners Federal Credit Union implemented CU Realty’s HomeAdvantage real estate program in 2013. In just five years, the credit union that serves employees of the Walt Disney Company, is celebrating its induction into the Million Dollar Club at the $1 million level.
According to Tim Mislansky, senior vice president and chief lending officer of Wright-Patt, the HomeAdvantage program has allowed the credit union to reinforce its mission to provide more value to the CU’s 330,000 members who live in and around the Miami Valley and Columbus, Ohio, areas. “We’re helping members save money – perhaps buy a new washer and dryer when they buy that home, or pay some of the bills that come with owning a home, or even bring down their closing costs in some instances.”
Partners’ vice president of home mortgage and real estate, Brad Tichenor, explains how the HomeAdvantage program allows Partners to further solidify their relationship with their members. “Having the ability to provide a member with a benefit, in the form of HomeAdvantage Cash Rewards at closing, creates a trust with members that—going forward—they're going to continue to use the credit union,” said Tichenor. “It really insulates that member from going somewhere else knowing that you have a much better sense of control over the transaction,”.
HomeAdvantage delivers a lead generation, nurturing and marketing automation system that helps CUs engage with home-buying members at the earliest stages of their home-buying journey, and keeps the CU on the member’s mind. For members, HomeAdvantage provides a one-stop, home-buying and selling experience, complete with online access to the real estate tools and support they need to buy and sell their homes, including a network of reputable real estate agents.
HomeAdvantage is a win-win for CUs and members alike. “The HomeAdvantage program has been a tremendous benefit to our members - and any credit union that that is looking to deliver more value back to their members and provide more economic benefit back should look at the program,” said Mislansky.