HomeAdvantage gives affinity a competitive edge in an aggressive market to close more purchase mortgages
After evaluating other options for its mortgage program, the $3 billion credit union determined that HomeAdvantage offered the benefits and training that would best serve its organization. “Affinity is dedicated to helping our members reach their dreams of home ownership,” said Carolyn Morganbesser, mortgage originations manager. “After speaking to other credit unions using HomeAdvantage, we knew it was a great fit for us and our members.”
HomeAdvantage provides credit union members with online access to valuable real estate tools and connects them to qualified and vetted real estate agents. Members who buy or sell their home using an agent in the program qualify to earn HomeAdvantage Cash Rewards at closing, an average of $1,570 in savings per transaction.
Headquartered in Basking Ridge, New Jersey, with more than 20 branches in the tristate area, Affinity FCU serves more than 150,000 members and services mortgages nationwide. Affinity believes that HomeAdvantage offers a significant enhancement to its member services. “Since members can apply their Cash Rewards toward closing costs, they don’t need to save as much money upfront, which gives them the opportunity to get into their homes faster,” said Morganbesser. “Additionally, the HomeAdvantage training excited the entire Affinity team as it’s another free and valuable benefit to offer our members.”
David Lehmkuhl, an Affinity member for 30 years, was the credit union’s first member to close on a home using HomeAdvantage. He learned about the program on Affinity’s website. Intrigued by the Cash Rewards opportunity, Lehmkuhl signed up and found a house right away. Within an hour, a HomeAdvantage agent was in contact with him.
“The process was very different than when I bought a house 19 years ago through another lender,” said Lehmkuhl. “This time, everyone was so helpful in walking me through the entire process. I can’t say enough about my HomeAdvantage real estate agent and my Affinity mortgage loan officer.”
“We are off to a great start,” said Morganbesser. “We launched HomeAdvantage in what is not traditionally the home buying season, but we anticipate bigger and better things thisspring.”
“The launch at Affinity marks our first venture in New Jersey,” said Tina Powers, chief operating officer at CU Realty Services. “Because credit unions using HomeAdvantage see much higher pull-through rates, we are confident that this program is going to transform the credit union mortgage outlook in the Garden State.”
About CU Realty Services
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 rebate. 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 CUSO’s in 24 states. To learn how credit unions are becoming members First Point of Contact™, visit www.curealty.com.
About Affinity Credit Union
When you become a member of Affinity Federal Credit Union, you belong to something better—a community. With more than 20 branches, Affinity is the largest credit union headquartered in the state of New Jersey, proudly serving the tristate area. Affinity has more than 150,000 active members and assets exceeding $3 billion. With thousands of businesses, associations, clubs and individuals that comprise the Affinity family, we are truly community connected. Affinity members have access to a network of more than 5,000 shared branches and nearly 30,000 surcharge-free ATMs nationwide. As a member-owned, not-for-profit, full-service financial institution federally insured by NCUA, Affinity offers products and services designed to fit member needs, all while offering better and lower fees than most banks. From investments to consumer and business banking services that include a full suite of deposit products and mobile and online banking, to auto, real estate, education and personal loans, Affinity has the right tools for your financial success. For more information, please visit affinityfcu.com and follow us on Facebook (AffinityFCU), Instagram (AffinityFCU) and Twitter (@AffinityFCU).