ADDISON, Texas – CU Members Mortgage, the credit union division of financial services firm Colonial Savings F.A., joined the ranks on June 3 of the growing number of mortgage lenders that provide online approval to mortgage applications in a matter of minutes. The service, which also includes a suite of financial tools, is offered 24/7 to assist members in determining how much of a house they can afford, principal and interest payments, and even estimated closing costs. Since its introduction a little over a month ago, 42 credit unions have signed up for the product, The company said user sessions have increased approximately 500% during the first six weeks. New applications have now surpassed 350. Linda Clampitt, vice president of CU Members Mortgage emphasized that the company's new service doesn't just provide a member with a pre-qualification, but a firm loan approval. Members can even print an approval letter from their computer and be in a position to make an offer on a home that day. "This service completely revolutionizes the mortgage application process," she said. [email protected]

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