Educational Systems Federal Credit Union Grows Mortgage Pipeline by 25 Percent with HomeAdvantage Real Estate Program

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Educational Systems Federal Credit Union Grows Mortgage Pipeline by 25 Percent with HomeAdvantage Real Estate Program

Turnkey home buying program from CU Realty Services provides members with a streamlined buying experience
SCOTTSDALE, Ariz., Feb. 7, 2017—Maryland-based Educational Systems Federal Credit Union had a goal to provide a complete home buying experience for their members and streamline the process to close more mortgages. To make that happen, the $886 million credit union implemented HomeAdvantage®, a turnkey real estate program from CU Realty Services (CURS), the largest real estate CUSO in the U.S.

Within seven months of rolling out the program, Educational Systems FCU has achieved some exciting conversion metrics:

More than 530 members enrolled in the program
398 identified themselves as buyers purchasing in 6 months or less
109 were referred to a HomeAdvantage agent
12 purchased a home
9 financed their mortgage with the credit union

Giving their members the resources to help navigate and simplify the home buying process was key. “It’s about providing value-added real estate services to our members to customize their home buying

experience and to go well beyond offering competitive rates and products,” said Abe Palit, vice-president of marketing at Educational Systems FCU. “Our goal is to help our members throughout the home buying process, the duration of which can vary from a couple months to a couple years, depending on the member’s time table. The tools available through HomeAdvantage and the financing available through the credit union provide a clear path to homeownership.”

The HomeAdvantage program offers members a one-stop home buying experience. Members can visit the site to search for homes, set up property alerts, connect with qualified local real estate agents and earn HomeAdvantage Cash Rewards at closing, an average of $1,530 in savings per transaction.

While members have been enthusiastic about the one-on-one service they receive, the credit union has seen growth in their mortgage business due to a holistic and member-centric strategy. According to Palit, “Our mortgage pipeline experienced a 25 percent surge in volume after rolling out the HomeAdvantage program. This resulted in more mortgage loan originations that increased our pull-through rate, helping us meet our goals for the year.”

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 Educational Systems FCU

Educational Systems FCU has proudly served the education community for over 60 years. With $886 million in assets and 12 branches, the Credit Union serves over 86,000 members in seven school systems and three community colleges throughout Anne Arundel, Calvert, Charles, Montgomery, Prince George's, St. Mary's and Talbot counties. To learn more visit www.esfcu.org.

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"We have been exceptionally pleased with the partnership with CU Realty. Participating in the program has assisted us with mortgage lead generation, and the relationships built with the CU Realty agents have proved to be invaluable, bringing awareness about the program to our members through the CU Realty events. Our members love the program and have saved over $46,000 in cash rewards since its inception."

Ron Collier
President & CEO
Indiana Members Credit Union