Realty CUSO Does $7M In Four Months

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Since its launch in February, CU Realty of VA, MD, DC, LLC, a CUSO operating in partnership with real estate company CU Realty Services of Scottsdale, Ariz., said it has generated $7 million in real estate transactions, securing more than $4 million in mortgages and paying more than $73,000 in member rebates.

Nearly 2,700 credit union members throughout the participating Mid-Atlantic organizations have registered for the service, the CUSO said. The CU Realty program gives credit union members free access to real estate decision tools including neighborhood demographics and MLS listings, plus the opportunity to receive up to a 1% rebate on the sale and purchase prices of their homes when they use a real estate agent from a pre-approved network.

The CUSO said that what really "sets it apart" is the strong relationship with the CU Realty "approved agents," a network of local real estate professionals hand-selected by the CUSO and who actively direct mortgage loans back to the credit unions. In fact, fully 88% of the registered members have secured their financing from their credit union; a vast contrast to other real estate and home rebate programs.

The 12 charter investors in the CUSO are Agriculture FCU, Apple FCU, Bank-Fund Staff FCU, Fairfax County FCU, HEW FCU, Justice FCU, NASA FCU, Newport News Shipbuilding Employees' CU, Northwest FCU, State Department FCU, and Tower FCU, along with the credit union-owned mortgage CUSO, Credit Union Mortgage Association.

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