The American Credit Union Mortgage Association said its members are committing themselves to "aggressive plans" to grow the slim 2% marketshare credit unions have in first mortgage lending.
During its Spring meeting here, ACUMA members laid out key action steps for growing their business, including more consumer education and enhanced relationship building with Realtors and other industry professionals. "It's time for credit unions to stand up and shout about our advantages as real estate lenders," said ACUMA President Bob Dorsa.
Dorsa said credit unions have a competitive advantage because, unlike national banks and mortgage brokers, they are both relationship-based and technologically sophisticated. "Credit unions are the only lenders that are high-tech, high-touch, financially competitive, and that also consistently put the consumer's needs first. These factors uniquely position them to compete successfully," he said. "By cementing that relationship, the credit union profits from the four or five additional financial services that the homeowner is likely to need," he stated.
ACUMA's annual Leadership & Technology Conference will build on the momentum created in New York. That meeting, entitled "Connections in Real Estate," will take place at Caesars Palace in Las Vegas on October 9-11.
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For additional information on ACUMA: www.acuma.org, or 877-44-ACUMA.
