In the purchase mortgage world, a well-established product and service industry, it is not often we get to see a big game-changer come into play. Some previous game-changers are the Great Depression, wars, the arrival of real estate agents, investors, and even the advent of credit unions. Today we are seeing another game-changer that is opening new doors for credit unions—the Internet.

Looking at Activity-Based Marketing (ABM), we now know that the current home buyer journey does not begin and end with the loan, or even with the real estate agent, although it may have been the case in the past. The Internet created a positive disruption to an old business model, opening a new path for home buyers to access all the information they need to educate and entertain themselves with real estate—a path that gives them more options and more control.  It became a game-changer because it eliminated the need for a buyer or seller to go to a lender or agent first. Buyers and sellers can now do all their own research and then, when they do want to reach out to someone else, they are much further along in the home purchase journey—and much more informed.


Now with buyers going online from the start, anyone with a web presence and some online marketing capabilities can step in and compete for your members’ mortgage business. This includes real estate agents, title companies, insurance brokers, mortgage companies and more. With this new purchase path for buyers, credit unions can no longer wait until the end of the home-purchase cycle to connect with home buyers. Waiting can mean a lot of missed business. 

Instead, by leveraging the Internet, the technology that disrupted the old home-purchase model, a credit union can now insert itself into the cycle much sooner, during the “discovery phase” of the search. With HomeAdvantage® from CU Realty Services, a credit union can position itself as a real estate advocate for their members--a valuable partner that can walk alongside its members through the entire home-purchase journey.  Now is the time for credit unions to evolve and harness the power of this game-changer. Those CUs that have already embraced this technology revolution are seeing exciting increases in their purchase mortgage business. 


Don’t know what the “discovery phase” is? We are here to help! Get all the details on how your credit union can take advantage of these opportunities in our most recent free eBook: A Revolution In Purchase Mortgage Marketing.