As a mortgage credit union service organization (CUSO) established 35 years ago, Mortgage Center has pretty much seen it all. This year, we’re witnessing a recurring theme throughout the industry: What can credit unions do to stand out? What does your mission do for your membership?
Our mission is to grow the credit union community. There are ample opportunities to keep business within the credit union space, especially when considering the alternatives like “the big dogs” in the industry. Here are five compelling reasons to leverage a mortgage CUSO now.
1. Enhance Your Membership Base
One of our primary goals is to provide credit unions with more opportunities to build their membership base. In the past 10 months alone, Mortgage Center has facilitated more than $80 million in new member production for our partners. Our emphasis on increasing mortgage volume for credit unions has resulted in not only new loans but also numerous opportunities for membership growth.
Through collaboration with a CUSO such as Mortgage Center, credit unions can draw in new members who specifically join for mortgage services, thereby broadening their influence and impact.
2. Navigate The Unpredictable Mortgage Market
The mortgage market is notoriously unpredictable, and this year is no exception. Data indicates rates are not decreasing as much as anticipated, adding another layer of complexity.
By partnering with a mortgage CUSO, credit unions can offload the stress and uncertainty of navigating this volatile market. Mortgages are what we know inside and out. We take these stressors off you and your team, allowing you to focus on serving your members better.
3. Keep Business Within Our Community
There are numerous mortgage companies available, but it’s crucial to keep business where it belongs — inside the credit union community.
By leveraging the services of a CUSO, you can ensure your mortgage program remains aligned with the values and mission of your credit union. This not only supports the broader credit union community but also reinforces the cooperative spirit that sets credit unions apart from other financial institutions.
4. Address The Aging Membership Challenge
The average age of members is rising, indicating the membership base is getting older. This demographic trend poses a significant challenge for credit unions striving to attract younger members.
CUSOs are actively building awareness around the credit union industry for those seeking mortgages, particularly younger individuals. Through strategic partnerships and targeted outreach, we help credit unions address this challenge and bring in a new generation of members.
5.Strengthen Your Credit Union’s Core Values
Mortgage Center takes our commitment to growing the credit union community very seriously. Our efforts are not just about numbers — they’re about fostering a thriving credit union ecosystem.
By working with a CUSO, credit unions can reinforce their dedication to community growth, ensuring their mission resonates with both current and potential members.
Now Is The Time To Redefine Your Mortgage Program
The landscape of the mortgage market is rapidly evolving, and credit unions must adapt to stay competitive. Now is the perfect time to redefine your mortgage program with the support of a mortgage CUSO. Let’s keep business within the credit union world and keep it thriving, together. By doing so, we can collectively ensure the credit union movement remains strong, vibrant, and relevant for generations to come.
Leveraging a mortgage CUSO offers numerous benefits — from enhancing your membership base and navigating market uncertainties to keeping business within the credit union community and addressing demographic challenges. It’s a strategic move that aligns with the core values of credit unions, fostering growth and sustainability in an ever-changing financial landscape.
