SCOTTSDALE, Ariz., April 25, 2017—SAFE Credit Union set out to provide its more than 200,000 members with a complete home buying experience; one that would take a member from their initial home search to the day they receive their new house keys. To achieve the goal, the $2.4 billion credit union based in Folsom, Calif. engaged CU Realty Services and deployed its turnkey real estate program, HomeAdvantage®. “The maintenance involved in trying to develop a real estate agent network—and do it well—is a significant undertaking,” said Suzanne Wages, assistant vice president of first mortgage sales for SAFE. “With HomeAdvantage we now have a more manageable way to generate and track leads, as well as measure success.
Within the first nine months of launching HomeAdvantage, more than 700 SAFE members enrolled in the program, enabling the credit union to begin building a pipeline that is full of both immediate and long-term leads. Of the members who enrolled in HomeAdvantage:
- 548 new registrations were buyers
- 425 buyers were not yet pre-qualified for a loan
- 163 buyers want to purchase within six months
The HomeAdvantage program essentially inserts the credit union into the home buying process early by offering a one-stop home buying experience. Members can visit the HomeAdvantage site to search for homes, set up property alerts, connect with qualified local real estate agents and earn HomeAdvantage Cash Rewards at closing.
“Being there early, for the buyer, is important,” said Ken Getz, vice president of business development at SAFE. “When members come to us in the very beginning of the home buying or home selling process, we can better maintain the relationship with them and ultimately keep their business. HomeAdvantage helps us start that early conversation. It’s a great solution.”
SAFE has been successful in attracting, identifying and engaging members who are prospective home buyers and sellers. Of those members who moved on to use an agent within the HomeAdvantage network and apply for a loan, 98 percent closed financing with SAFE. The credit union’s average pull-through rate, from application to funding, is about 80 percent.
SAFE has been successful in attracting, identifying and engaging members who are prospective home buyers and sellers. Of those members who moved on to use an agent within the HomeAdvantage network and apply for a loan, 98 percent closed financing with SAFE. The credit union’s average pull-through rate, from application to funding, is about 80 percent.
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 home buyers find homes, research neighborhoods, calculate costs, connect to experienced real estate agents, and earn a cash reward. By offering this program to members, credit unions are able to achieve significant increases in their purchase mortgage business.
CU Realty Services partners with hundreds of credit unions and mortgage CUSOs in 24 states. To learn how credit unions are becoming members’ first point of contact, visit www.curealty.com.
About SAFE Credit Union
SAFE Credit Union, established in 1940, is a leading financial institution in Northern California with more than $2.4 billion in assets and more than 200,000 members. The credit union provides a full range of financial solutions for consumers and small businesses through 21 service centers across the Greater Sacramento region and a mortgage lending office serving Contra Costa County. SAFE offers its members a variety of banking services, including online, chat, mobile, phone, as well as a full-service, locally based call center. SAFE is a not-for-profit, community-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, and Amador counties. SAFE is federally insured by the NCUA. www.safecu.org
