CU Gets 2 Minutes On TV Each Week

Despite all the razzing from staff, Betty Feierstein is not Hollywood-bound.

The VP of mortgages at Landmark Credit Union said that her new role as television spokesperson for the CU's loan services just came with the territory.

Feierstein is featured in a two-minute segment called "Your First Home,'' a 30-minute infomercial that airs on the local Fox affiliate every Saturday morning and features local home builders and home improvement service representatives.

Pat Ransom, VP of Marketing, said her CU invested "just under $15,000 for exclusive rights to the financial advertorial for 26 weeks.

Even with its risks as a new and unproven program, Ransom said the cost was reasonable and worth it "to prevent any (other financial institutions) from getting their foot in the door.''

The program that debuted in March is all sponsor driven and targeted toward first-time homebuyers.

Ransom said two hosts filmed three separate segments on location-in Freierstein's case, in her office-that will rotate for six consecutive weeks, after which time they will be replaced with three new segments.

"In each two-minute segment, Betty talks about a different topic,'' Ransom said. For example, her first discussions focused on the importance of getting a pre-approved loan and knowing how much you can afford.

Responses to the program will be tracked via a special phone number linked to a CU loan officer, Ransom said, adding that it's too soon to predict its success.

However, she added, Landmark, a community-chartered CU with $715 million in assets, is confident in its loan products.

In addition to its home loans with no closing costs for existing homes, the CU is offering a show special only loan for homebuyers interested in new construction.

"Because other sponsors feature new construction, we created a 3.9% loan for the first year of construction with no closing costs and no inspection fees,'' Ransom said, explaining that after the first year, the loan is adjusted to a fixed-rate.