A CUSO that helps credit unions increase the number of purchase money mortgages has urged credit unions to consider housing finance less as the marketing of loan products and more as creating a leading sales channel.
"Credit unions should start looking at the home buying decision cycle as a lead channel and design a program that will enable them to capture their members' business when they are ready to begin their search–not after," wrote CU Realty Services in a white paper, "Making the Shift: Helping Credit Unions Establish Real Estate Services as a Core Product Offering." CU Realty Services is a national CUSO headquartered in Scottsdale, Ariz., that helps credit unions tailor their housing finance programs to attract more purchase money borrowers.
"Instead of simply making mortgage loans available, credit unions that include real estate programs among their core services are seen as full-service institutions. They are able to meet members' home-buying or selling needs from start to finish," the CUSO argued.
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