Partnership with CU Realty Services provides new benefits to members
Scottsdale, AZ and Hollywood, CA (Feb. 4, 2013) – Serving the real estate needs of its members means the Hollywood-based First Entertainment Credit Union deals with people purchasing Malibu estates to Burbank bungalows. Whichever bracket they are in, members of the $1 billion Credit Union stand to gain from a new partnership with CU Realty Services that will cut costs whey they close on a home they buy or sell. It also will give them access to CU Realty’s online, user-friendly real estate program.
“We’re always looking for ways to bring value to our members,” said Dan Gushue, the Credit Union’s Vice President of Lending. “We want to give them the tools and the information to make smart financial decisions. CU Realty Service’s program is a good fit with the type of helpful services we want to offer members. We expect it to give the credit union lending opportunities we might not have had otherwise.”
Using CU Realty’s turnkey program, credit union members can research neighborhoods, shop for a house and estimate payments. Best of all, they can select an experienced Realtor® from CU Realty’s network and save money via its CURewards program, which returns thousands of dollars in cash to members or reduces their closing costs. On average, members of affiliated credit unions save $1,499 – approximately 20 percent in real estate commissions. In 2012, CU Realty Services provided client credit unions’ members rebates of more than $2.2 million.
“Last year, more than half of U.S. home buyers went online as their first step in buying a house, and two thirds of those selling a house chose the first Realtor they contacted, according to the National Association of Realtors [NAR],” said Mike Corn, President/CEO of CU Realty Services. “If members go to their credit union’s website before anything else, the credit union gains a tremendous advantage that could generate more purchase mortgage loans.”
Corn says the real estate program is meant to grab members’ early in the home buying/selling process. “Because it creates a successful mortgage lead channel, our credit union partners see a notable increase in member loyalty, as well as substantial growth in their first mortgage loans.”
To learn more about the CU Realty Services program, visit www.curealty.com.
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 company has worked with more than 100 credit unions and thousands of their members. CU Realty’s range of web-based tools helps homebuyers find homes, research neighborhoods, calculate costs and connect to experienced real estate agents. For more information, call Tina Powers, (800) 203-9014, ext. 104, or visit www.curealty.com.
About First Entertainment Credit Union
First Entertainment Credit Union, headquartered in Hollywood, California, was founded in 1967 to serve employees of Warner Bros. Studios and their families. Now working with employees of many entertainment-based companies, First Entertainment currently serves nearly 65,000 members and has assets in excess of $1 billion. For more information, visit www.firstent.org.