The HomeAdvantage program is now serving 7 Illinois CUs and 400,000 members
Headquartered in Oak Lawn, Illinois, Credit Union 1—with $818 million in assets—serves almost 102,000 members at 23 locations. It is the 10th largest CU in a state where the real estate market has remained relatively flat for two years. In Illinois, HomeAdvantage is now being used by five of the state’s top 12 largest CUs.
HomeAdvantage was designed to help CUs engage and support more home buyers much earlier in the home-buying process and stay positioned to earn their mortgage business. The program provides members with online access to the real estate tools and support they need to buy and sell their homes: online property listings, recent sales data, neighborhood demographics, a network of reputable real estate agents and more.
Members who use the program to buy or sell a home see savings at closing through HomeAdvantage Cash Rewards. When members use a real estate agent in the HomeAdvantage network, they qualify to earn a cash-back benefit equal to 20 percent of the agent’s commission. HomeAdvantage Cash Rewards average $1,570 in savings per transaction.
As a result, credit unions see significant wins including increases in application volume and closings. Many CUs often report pull-through rates of 80 percent or higher after implementing the program.
“We are excited about partnering with Credit Union 1,” said Tina Powers, chief operating officer at CU Realty Services. “This is our seventh implementation in the Illinois market so we’re proud to see HomeAdvantage become a proven, go-to solution for a wide variety of credit unions and their members.”
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.