Psst… Hey, I have a secret to tell you.
Well, not really, but that certainly grabbed your attention, didn’t it? Everyone loves a good secret – it’s the fascination of the unknown that draws us in, the thought that we’ll know something that others don’t. For myCUmortgage experts, one of their big secrets is that they work with an Amicitian alien, but that’s not much of a secret any longer. Once this blog got up and running, the teams from Roswell, New Mexico were quick to pay a visit.
A secret is an interesting and intriguing concept. While some secrets naturally and logically need to be kept under wraps (e.g., business trade secrets and the Colonel’s unique blend of herbs and spices), other secrets perhaps should be revealed for the betterment of the world in which we live.
Over the past year or so, I’ve befriended a former Starbucks barista and learned a lot about the secret beverages they offer. Did you know you can order a Red Eye, a Black Eye or even a Green Eye? For the Harry Potter fans, how about a Butterbeer Latte? Or my personal favorite, the Captain Crunch Berry Frappuccino? I need to plan the intake of my secret drink accordingly, however, as the sugar content usually has my eye stalks and tentacles twitching for several hours.
I think you’ll agree that secret menus like the one at Starbucks should be publicized for the betterment of society. There is another big secret that I also believe you’ll agree should be shouted from the mountaintops: Credit unions are the BEST place to get a mortgage!
While not a complete secret, the fact that credit unions offer mortgages is apparently only sparsely known. According to statistics by several mortgage industry pundits and organizations, the mortgage market share for credit unions is consistently well below 10 percent. This is difficult to process in my alien cranium, as credit unions are well known for being the most trusted financial partner to its members. They are THE resource for personal finances, consumer loans and even business programs and products. So, why are mortgages such a big secret?
Since I’ve been here at myCUmortgage, the very fact that this secret exists has been a focal point of ours, as we encourage our partner credit unions to communicate and market the fact that they DO offer mortgages for members. And even more importantly, they should promote that credit unions are THE ideal place for members to go for their home loan needs.
This year, myCUmortgage has taken an unprecedented step and rolled out a program that markets mortgages directly to credit union members, driving them back to their credit unions to learn more and apply. Here’s where I give my shameless plug: If you are a current myCUmortgage partner credit union and want to get in on this fantastic opportunity, contact your Partner Success Manager. If you are not a partner but would like to be so that you, too, can get in on the Direct-to-Member marketing campaign, you can Start Here.
It’s critically important to the success of your credit union mortgage business to communicate to your members the benefits of homeownership and how you can assist them with their own American dream. To help you out, let’s peek at part of the Direct-to-Member marketing campaign. We’ll call it the Credit Union Mortgage Secret Menu, which includes the Top Six reasons why your members need to come to your credit union for their homeownership dreams and aspirations.
Menu Selection One – Competitive Rates: Credit unions put people over profits, so members always win with great rates and lower fees.
Menu Selection Two – More Flexibility: Whether a member is buying or refinancing, credit unions have loan programs designed to fit their budgets.
Menu Selection Three – Expert Guidance: Credit union mortgage pros are available to help members every step of the way.
Menu Selection Four – Transparent Application Process: No smoke and mirrors with credit unions – members know exactly what to expect throughout the homebuying process.
Menu Selection Five – We’ve Got Your Back: Each member’s priorities are different than everyone else. A credit union’s priority is to help each member find the best solution to fit their individual needs.
Menu Selection Six – We’re in Your Community: Credit unions understand members because they work and live right there beside them. Supporting local lenders supports everyone in the community.
At the end of this menu, we remind members that buying a home is one of their biggest and most important financial decisions. Why not use the credit union they already know and trust?
Let’s all make an effort to get this secret menu out. Together, we can let current and potential credit union members know all the reasons why credit union member mortgages should be at the top of the homeownership options menu. It all starts with communication, so let’s get marketing and fulfill more members’ dreams of owning a home!