Lima, Ohio-based Superior Federal Credit Union said it has usedthe efficiency of its the integrated point-of-sale to dominate itsmortgage market by achieving 25% market share of mortgage loans, orfive times the national credit union average.
|The credit union services a $660 million portfolio, an increaseof about $390 million since November 2008 when it launched thePowerSite integrated point-of-sale solution from Mortgagebot of Mequon, Wis., and has also decreased processingtime by 50% and doubled the capacity of loans in each loanofficer's daily workload.
|Results from 2011 show the 46,000-member CU recorded $165million in loan volume, closing 1,500 loans through its mortgagecenter and CUSO. Mortgage activity in 2012 is also set to outpace2011, with nearly 1,000 loan applications and $35 million in loanvolume in the first two months alone, the credit union said.
|Michelle Snyder, vice president of Superior's mortgagedepartment, called the IPOS critical in sustaining performance.“PowerSite allows us to quickly and accurately deliver loaninformation and decisions to our members, CUSO partners andreferral partners,” she said. “Once we integrated PowerSite intoour system, we gained mobility and were able to capitalize on itsbenefits.”
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