BCU joins elite Million Dollar Club with CU Realty Services’ HomeAdvantage program
BCU Hits Milestone; Saves Members $1.3 Million.November 25, 2016In 2011, BCU launched the HomeAdvantage® real estate program from CU Realty Services with a goal to increase purchase mortgage volume and provide a valuable service and savings to its members. In less than five years, the Illinois-based CU exceeded that goal—saving members, who used the turnkey real estate program, more than $1.3 million.
HomeAdvantage is an online real estate service that offers credit union members the opportunity to search for homes, find an agent and save money at closing via HomeAdvantage Cash Rewards. Buyers and sellers qualify for Cash Rewards when they use a HomeAdvantage network agent to buy or sell their home. Cash Rewards are equal to 20% of the agent's commission and save the member, on average, $1,500 per transaction.
While hundreds of CUs and CUSOs across the U.S. offer the HomeAdvantage program, BCU is one of only eight CUs to be recognized as part of the program's Million Dollar Club, surpassing the $1 million Cash Rewards milestone. “Every year since we started offering this program we have grown,” said Bob Pondelicek, director of mortgage sales at BCU. “This year alone we will give back to our members close to $500,000.”
BCU has received outstanding feedback from its members who have saved money at the closing table. “This is such a huge benefit to many first time home buyers who already have limited funds to close,” said Pondelicek. “HomeAdvantage Cash Rewards make the transaction a little less stressful, financially.”
While Cash Rewards help attract members to the program, Pondelicek sees an even greater advantage in providing members with a vetted and approved real estate agent. There are more than 500 agents in the HomeAdvantage network who have been handpicked and trained. “The biggest benefit for our members is they have a trusted real estate agent they can call on and an intuitive online portal to search for properties and look at specific details about those homes and the neighborhoods around them. It's a great program for each and every member who is buying or selling a home.”