Winning credit unions exceed in a challenging lending market with highly progressive, effective, and quality mortgage programs.
DALLAS, TX – October 29, 2012 – CU Members Mortgage has recognized four of its credit union partners that have achieved stellar performance in their mortgage departments in 2012. These achievements were based on CU Members Mortgage’s scorecard process that evaluates partner credit unions’ mortgage departments. The four credit union partners honored for their mortgage lending achievements include:
- Credit Union of Texas (2011/2012 Elite Partner’s Club MEI)
- Fresno County Credit Union (2011/2012 Elite Partner’s Club MEII)
- Eli Lilly Federal Credit Union (2011/2012 Elite Partner’s Club MEIII)
- Security Service Federal Credit Union (2011/2012 Elite Partner’s Club MEIV)
- Eli Lilly Federal Credit Union (2011/2012 Elite Partner’s Club Overall Highest Achieving Credit Union)
- League of Southeastern Credit Unions (2011/2012 Elite Partner’s Club Top League Partner)
- Texas Credit Union League (2011/2012 Elite Partner’s Club Marketing Achievement)
These awards were presented based on the credit unions’ scores using CU Members’ Scorecard. This scorecard process was developed to emphasize how credit unions evaluate the progress, effectiveness, and quality of their mortgage program.
The scorecard takes into account factors such as the ratio of home loans that are purchased compared to home loans being refinanced, average borrower FICO scores, a low percentage of early payoffs, and a scant default ratio. Additionally, credit unions score points for innovative marketing initiatives and attending educational training sessions.
“With the turbulent times the housing market has faced, members need to turn to someone they trust,” says Fresno County Federal Credit Union Real Estate Servicing Manager Stephanie Parra. “We make sure to educate our members about the different loan products and the loan process. We don’t just turn them over to the processing center once an application is complete. We are there for them every step of the way, and it is important to us that we do so. In return, word of mouth is one of the most valuable marketing tools an organization can have. When you provide great service you reap the rewards.”
Parra adds that Fresno County treats its members like family and ensures they are comfortable doing business with the credit union and its mortgage partner. In addition, she says that it is important to find a partner with the same mindset. CU Members Mortgage has, in essence, been an extension of Fresno County.
“You must take your service to the next level and support it with the proper staff and efficient processes: knowing your loan products, reducing paperwork, and being there to address their needs,” explains Parra. “While we work with loans day in and day out, our members do not. Remembering that fact and taking the time to explain the details has been a successful formula for us.”
According to Eli Lilly FCU’s Vice President of Lending Dale Turner, his credit union focuses on the “member first” mentality. “When many financial institutions changed lending standards and strategies,” explains Turner, “we stayed true to our lending philosophy. Simply put, that is making good loans to great people – our members.” He adds that Eli Lilly FCU likes to keep things simple. The credit union’s staff comes in daily looking to exceed its members’ expectations. They keep that goal in mind as they process any transaction, whether that is cashing a check, funding an auto loan, or helping a member purchase that first home. “Exceeding expectations is our goal every day,” he says. “We can thank our loyal members for this award,” Turner says. “We only win when they win, and we’re fortunate to have such great members who look to us to achieve their financial successes. Receiving industry recognition for our efforts is rewarding and a validation of what we do and how we do it.”
“These credit unions are excelling in a time when the lending market remains challenging for many,” says Linda Clampitt, Senior Vice-President of CU Members Mortgage. “We are proud to honor them because they have achieved great heights in lending during some arduous times. They have stepped up and provided their members with excellent service to help them achieve the American dream of owning a home.”
Clampitt adds that she hopes this announcement will spur other credit unions to collaborate with this year’s scorecard winners, gleaning some helpful information to boost their lending programs for increased activity.
CU Members Mortgage is honored to recognize these scorecard winners for their work to build successful mortgage lending programs at their respective credit unions. Winners receive a trophy in honor of their achievement.
About CU Members Mortgage
Founded in 1982 as a division of Colonial Savings, Dallas-based CU Members Mortgage provides comprehensive mortgage services to more than 1,100 credit unions, CUSOs, and leagues nationwide. CU Members Mortgage originates more than $3 billion in FHA, VA, and conventional loans each year. With a portfolio of $16.5 billion, the company is one of the largest servicers of mortgage loans in the United States. Advanced technology, including a dedicated website with an online mortgage application that delivers confirmation in minutes, makes CU Members Mortgage one of the industry’s leading resources for mortgage services. The company is privately held and has branches located nationwide. For more information, visit: http://www.cumembers.com.