It’s hard to believe that this year’s myCUmortgage Partner Conference wrapped up over two weeks ago. It seems like just yesterday that I was enjoying everything that The Amazing Mortgage Race had to offer: great sessions providing insights, information and inspiration; networking with colleagues and credit union mortgage industry experts; and beef martinis. Yes, I said beef martinis which were served during the Opening Reception. I usually stick to protein gels and Moon Pies, but these were intergalactic sensations!
Something else sensational that I’m happy to share is that we’ve extended the availability of the virtual site for the Partner Conference through the end of this year (Dec. 31, 2021). If you previously registered for either the in-person or virtual-only portion of the event, you have access to the site and all the valuable information within, including recordings of the sessions, presentations, speaker and sponsor information, and so much more. All registered attendees received an email from the virtual website with the link and login information—if you misplaced it, don’t hesitate to contact [email protected] and they’ll get you set up.
One part of the event that sometimes gets overshadowed by the plethora of content is the Annual Awards. Each year, myCUmortgage recognizes the best of the best in credit union mortgage lending. This year, there were a record number of awards presented, which was no surprise considering the mortgage market over the past year-and-a-half has moved faster than a blarnock when it hears the feeding beacon sound.
In total, myCUmortgage handed out 66 awards to partner credit unions and loan originators. That’s more hardware than can be found on my spaceship! myCUmortgage recently distributed the news release announcing all of the winners, but considering the amount of work put in by our valued partners, all in an effort to help more members with home ownership, I thought it would be most appropriate to recognize these dedicated mortgage teams one more time.
First, let’s look at the numbers. We had 54 loan originators from partner credit unions who each assisted 100+ members over the course of the last 12 months. In total, these 54 loan originators helped 9,552 members! That’s worthy of a Wookie celebration roar! And from the credit union perspective, the following partners had the most members assisted in their size categories:
- Large Credit Unions: KEMBA Financial Credit Union in Columbus, Ohio
- Mid-Sized Credit Unions: Midwest Community Federal Credit Union in Defiance, Ohio
- Small Credit Unions: Metro Employees Credit Union in Lexington, Ky.
Next, let’s look at our best of the best awards for the previous 12 months. For these, I want to be as transparent as my protective slime coat and tell you that I borrowed a lot of the information below from the myCUmortgage Marketing Team and their fantastic Partner Success Managers (big shout-out to Andrew, Jon and Bret). They nailed these backgrounders of the winners, so why reinvent the landing apparatus for a Type C interstellar transport?
Purchase Money Lender of the Year: Our winner made a concerted effort to build Realtor relations, including a “Realtor of the Month” feature on their website. Keeping digital communications open, they strategically used three email drip campaigns. Marketing included billboards, emails and highlights of the Welcome Home Program. The result? Nearly double the previous year’s volume with 67 units for over $8.8 million. Our Purchase Money Lender of the Year from Sandusky, Ohio is VacationLand Federal Credit Union.
Originator of the Year: Despite the challenges from the COVID-19 environment, this mortgage loan originator closed nearly $8 million dollars in loans while maintaining excellent member reviews and a strong pull-through ratio. She has a superior ability to build trust with peers, members and everyone involved in the mortgage process. Although she will be stepping into a part-time role to semi-retire, she’ll continue to jump hurdles for members. The Originator of the Year is Terri Brancucci from Trax Credit Union in Tampa, Fla.
Lender of the Year: In the past year, our winner broke volume records while adapting to the changes in the mortgage industry and market during the pandemic. Focusing on members, their education efforts included virtual home buying workshops and a comparison chart of loans that convinced most members to choose a shorter term, helping members as well as reducing portfolio risk. Additionally, from July 1 through June 30 year over year, they went from 194 closings for $36.6 million to 450 closings for $80.2 million. As recently as 2017, our winner closed just 67 first mortgages. Congratulations to our Mortgage Lender of the Year, from Elgin, Ill., KCT Credit Union.
Marketer of the Year: This winner wanted to reach 100 funded loans within one year. To reach it, they used multiple strategies. For the first time, they partnered with the Federal Home Loan Bank for the Welcome Home Program. They built a marketing campaign targeting 25- to 45-year-olds with a limited-time offer to pay for the members’ appraisal for any fixed rate contract. To increase awareness, they created banner ads, lead-generating quizzes, Google ads, social media and radio ads. The loan team also worked hard to maintain Realtor relationships during COVID-19. These efforts resulted in 104 funded loans and a conversion ratio of 55%. Based in Benton, Ky., our Marketer of the Year is Lake Chem Community Federal Credit Union.
CU Select Partner of the Year: This year’s winner joined myCUmortgage late in 2019 with a plan for member success with both purchases and refinancing. They quickly learned the myCUmortgage process and the best way to attract members. Through marketing promotions and a well-trained staff, their efforts produced strong results: 21 member loans totaling $2.2 million dollars. According to CU Select Mortgage Loan Originator, Beth Isherwood, this credit union’s partnership helps members achieve a better financial peace of mind. This year’s CU Select Partner of the Year is Neighbors United Federal Credit Union in Greenwood, S.C.
New Partner of the Year: This partner started with myCUmortgage in 2019 and went live in early 2020. With the goal to increase their market share, this partner has seen healthy and consistent growth by leveraging their expertise and increasing their brand awareness. Check out these newcomer stats: Total volume surpassed 296% of their volume goal with purchase business up 195%. Timing and pull-through have been a focus throughout, reaching just under 50% while closing files in an efficient and timely manner. This partner is driven, detailed and determined to help its members. Based in Columbus, Ohio, this year’s New Partner of the Year is Kemba Financial Credit Union.
Government Partner of the Year: This partner credit union established their goal to be the number one choice for residential first mortgage loans. But they didn’t have only one strategy to reach it. They worked hard to be the go-to lender for Realtors by being active in the Realtor community and events as well as being an affiliate liaison to the Board of Realtors. They reached out to borrowers with lobby info, billboards, radio and TV appearances. The team’s result was 28 FHA loans, 12 VA and 15 RD, totaling 55 units for $6 million and very happy members. Our Government Partner of the Year from Portsmouth, Ohio, is Desco Federal Credit Union.
myCUmortgage presented Missouri Valley Federal Credit Union in Saint Peters, Mo. with the Susan Edwards Scholarship. Named after the late Susan Edwards, a former employee of myCUmortgage and fierce advocate for small credit unions, the scholarship is awarded annually to a smaller credit union that demonstrates excellence in assisting members with home ownership. The scholarship funds attendance to the myCUmortgage Partner Conference.
An additional highlight was the presentation of the Tim Mislansky Belief Award to John Ring of Canton Schools Employees (CSE) Federal Credit Union in Canton, Ohio. This is myCUmortgage’s highest honor, created to recognize an individual who follows Mislansky’s belief in the importance of living one’s values at home, at work and in the community. Ring’s numerous contributions of time, expertise and fundraising have strengthened his credit union, family, schools and city.
To wrap this up, I can only say WHAT A YEAR! Great job to all the winners and THANK YOU for taking such great care of your members as they strive to achieve the American dream of home ownership. We couldn’t be more excited!
I feel the vibrations of orchestra music growing which can only mean it’s time to wrap this up. Here’s to another successful year and many years to come as together, we assist more members with home ownership!