Schools Financial Credit Union Case Study: Changes in Mortgage Marketing Practices Garner Huge Gains
Schools dropped its traditional mortgage marketing strategy and saw mortgage volumes rise to become 45% of their core mortgage business
By: CU Realty Services
CU Realty Services is the largest CUSO in the U.S., serving hundreds of credit unions nationwide. CUs that implement HomeAdvantage can see significant increases in application volume and closings. Many credit unions report pull-through rates of 80 percent or higher. Sacramento, California-based Schools Financial Credit Union saw a snowball effect from HomeAdvantage, with one success leading to another.
According to Jason Stiles, VP Real Estate Lending, Schools evolved from a basic mortgage lender to robust real estate solution provider. "Using the program, we have seen our core mortgage business increase from nine percent purchase volume to 45 percent purchase volume in the past 18 months. And our members have saved more than $100K in HomeAdvantage Cash Rewards at the closing table."
In this new case study, Stiles shares the details behind Schools' new marketing success, which is attributed to several key ingredients:
Read the full case study story here: https://curealty.com/
About Schools Financial Credit Union
Founded in 1933, Schools Financial Credit Union serves more than 140,000 members and has over $1.8 billion in assets. Schools Financial operates 11 branches and offers Banking for EveryoneSM in 12 northern California counties. www.schools.org
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 mortgage CUSOs nationwide to offer its turnkey real estate program, HomeAdvantage. Through the program, credit union members can search for homes, research neighborhoods, calculate costs of homeownership, connect to experienced real estate agents, and earn HomeAdvantage Cash Rewards. By offering this program to members, credit unions are able to attract, identify and engage more home buyers, and consequently close more loans. To learn more, visit www.curealtyservices.com.