Credit Union West and Vantage Credit Union use HomeAdvantage to attract, identify and engage more potential home buyers
SCOTTSDALE, Ariz., December 13, 2018 — More and more CUs are are seizing the opportunity to boost their purchase mortgage business by implementing HomeAdvantage®, a turnkey real estate marketing platform from CU Realty Services—the largest real estate CUSO in the U.S. These two CUs, Credit Union West (Glendale, Arizona) and Vantage Credit Union (Bridgeton, Missouri), sought a solution that would enable them to make homeownership more affordable while keeping the credit unions’ mortgage programs front-of-mind.
The HomeAdvantage program delivers a lead generation and nurturing system that helps CUs attract and engage more home-buying members and close more loans. The program offers members the online tools and support they need to both buy and sell their homes, including property listings, recent sales, property valuations and a network of reputable real estate agents. When members interact with those tools and the HomeAdvantage website, they become leads for the credit union. CUs that use HomeAdvantage often report increases in purchase mortgage volumes by 40% and pull-through rates by 80 percent or higher.
Members who buy or sell a home using a certified agent in the program qualify to earn HomeAdvantage Cash Rewards at closing. This cash-back benefit is equal to 20 percent of the agent’s commission. Reducing or eliminating out-of-pocket expenses could allow members to move into their dream home sooner.
“Credit unions that use HomeAdvantage see a variety of member and business benefits,” said Mike Corn, president and CEO of CU Realty Services. “For members, HomeAdvantage makes the home-buying process easy and our Cash Rewards make homeownership more affordable. For credit unions, HomeAdvantage provides a technology platform from which they can reach and engage more potential home buyers, as well as stay front-of-mind so that they can close more purchase loans. It’s truly a win-win relationship!”
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 Credit Union West
Vantage Credit Union was founded by members of the St. Louis Suburban Teacher’s Association in 1957 as the Suburban Teachers Credit Union. Over the years our credit union has experienced growth, expanded to serve people outside the teaching profession and outside the metropolitan region, and merged with several smaller credit unions. In 2002, the name changed to Vantage Credit Union to reflect our more diverse membership. While our roots still run deep within the educational community, we now serve nearly 90,000 members with more diverse backgrounds and occupations with a full menu of financial services. www.vcu.com.