When it comes to credit union mortgage lending in today'sslow-recovering economy, having any kind of advantage to attractmembers is a positive position for lending longevity andprofitability, especially when rates increase.

One of the key tools in achieving this longevity andprofitability is having a robust, convenient and easy-to-use onlinemortgage lending process.

With credit unions migrating to nearly every financial serviceonline and/or mobile these days, it's only natural for a creditunion to have a web-based mortgage lending application that makesit incredibly easy and inviting for a member to embark on the homeloan process.

This online move is not only great for empowering members toconduct the lending process on their own, but it also increases thevalue of the lending experience with the credit union from easy24/7 access to loan approval. In addition, it's an ideal way forcredit union members to get the latest rates available and quicklyfind answers to their questions.

To capture members' attention that will prompt increased usageof their online mortgage lending solution, credit unions shouldfollow a few pieces of advice for a most likely boost inbusiness.

Listed below are five key practices they should have on theirwebsites to increase online mortgage lending:

1. The fewer clicks, the easier the find, the betterchance of sealing the deal. Optimal placement of mortgageinformation from the front page of the credit union's website is anessential first step. The fewer the clicks to the onlineapplication the better. The more the member has to maneuveraround your website to find what they need, themore frustrated they become and the less likely they are toget to the application page. Remember, the moremembers who start the application, the greater the chanceof finalizing the loan.
2. Increase your coverage. Consumersview websites in various ways. Some find a horizontal menueasier to maneuver while others prefer a vertical menu. Whatevermenus you include in your website, make sure you are includingmortgage lending in all of them. Your goal is to capture theaudience with ease. Providing them multiple ways to findinformation will provide the strongest response. If you useWeb banners, make sure to include mortgage products with them,too. The more visibility the stronger the response you willhave.
3. Make it personal. Personalizeyour connection with your home loan team or partner to themember. Whether you have an onsite loan officer or yousimply need to explain your relationship with the home loansolution partner, use your website to make the transactionmore personal for the member. They will be sharing very personal financial information within theloan process. They need to feel comfortable with their lenderand who they will be working with.
4. Make transition statements inviting.If you must have a message of transition from your creditunion's website to the outsourced online mortgage websiteapplication, make it brief and inviting. Don't scare potentialborrowers away by stating you have nothing to do with thewebsite to which you are transitioning the member. Theyare going to provide very personal financial details on anonline application and they need to feel confident with whomthey are giving this information. Make sure they understandyou do support the efforts of the transaction and use softlanguage to encourage them as they transition tothe application website.
5. Provide confidence in the lender they will beworking with. Whether your online application is simply atool for your team to use or it's a portal of collecting datafor an outside vendor, ensure the trust and confidence in whatyou and/or your partner can provide in mortgage lending.Explain your commitment to service. Explain your commitment toprivacy protection. Explain your relationship with the outsidepartner, if necessary. Explain the ease of use and quickresponse of applying online and how a decision can be made inminutes.

Follow these five practices and get your member started in theright direction with their online mortgage application. Theultimate goal is to bring in more applications, satisfy the memberwith the immediate availability of a rate and approval 24/7, andease of use.

It all begins by communicating well and helping them to findwhat they need quickly and easily. These initial steps will helpcredit unions reach new levels of success in the mortgage lendingarena, one of the most profitable areas of any financialinstitution.

What is your credit union doing to foster online mortgagelending business?

Wallace Jonesis vice president of training at CUMembers Mortgage in Dallas.