ADDISON, Texas–CU Members Mortgage, a division of Colonial Savings F.A., has named the winners of its annual Credit Union Elite Partners Club program for the 2017/2018 fiscal year.
The winners include:
Direct Lending: Austin Telco FCU, Texans CU, Kitsap CU and InTouch CU.
Fulfillment Services: Arizona FCU, Benchmark CU
Correspondent: Elements Financial FCU
League: Cornerstone CU League
Each award was presented based on the credit union’s scores using CU Members Mortgage’s unique scorecard that evaluates each partner’s mortgage department’s annual performance. This scorecard process was developed to emphasize how credit unions evaluate the progress, effectiveness and quality of their mortgage programs, the company said.
It added the scorecard takes into account a number of factors including, the ratio of purchase loans compared to refinanced home loans, average borrower FICO scores, a low percentage of early payoffs and a miniscule default ratio. Additionally, credit unions score points for innovative marketing initiatives and attending educational training sessions.
“We continue our tradition celebrating our credit union partners across the country for their steadfast efforts to help members in the dream and power of homeownership,” said Steve Hewins, Senior Vice-President for CU Members Mortgage. “We can’t think of a better time to recognize our partners’ efforts than during a changing market where the competition is the fiercest we have seen in recent years. Congratulations to these special credit unions and all their efforts to go above and beyond for their members.”