Buying a house is the largest purchase most members will ever make, and the transaction’s unfamiliar processes are ripe for complication and anxiety.
Luckily, credit unions are well-positioned to look out for their members’ best interest; unfortunately, members often don’t know they can get a mortgage with a credit union. According to data from Callahan’s first quarter Trendwatch webinar, credit unions captured only 6% of total originations, meaning there’s plenty of growth opportunity.
Higher interest rates and low inventory are creating a sluggish housing market with the lowest levels of affordability in decades. In this kind of environment, it’s important for credit unions to be on their marketing game with websites designed to capture the business of members and potential members looking for the right mortgage partner.
From clear calls to action to personal touches, credit union marketers are deploying more than a few strategies to make homebuying easier for members.
Oftentimes, credit unions separate mortgages and Home Equity Line Of Credits (HELOC) on their websites, which is understandable given how lenders handle the products internally. To members, however, both of these loan types involve homes, so it feels natural to look for information on both in one central location.
First Commerce Credit Union in Tallahassee, Florida, showcases loan products next to each other in its home loans rotator. There is no confusion about the most important call to action. The rotator contains three images, but each features the same language and a call to action. Simplicity at its finest.
Not only does First Commerce Credit Union make it easy to find information, it also makes it clear the credit union will be with borrowers every step of the way. That’s the reassurance many need to move forward.
And when members are ready to take the next step, the credit union makes that easy, too, with a required documentation section located on the same page that outlines exactly what members need.
Check out First Commerce Credit Union’s marketing page here.
This article appeared originally on CreditUnions.com. For more information on how other credit unions are utilizing AI in their workplace, click here.