Experience is everything. In fact, the member experience is often a primary reason people choose a credit union over other financial alternatives in the first place.
Post-pandemic, that experience is more crucial to your credit union’s success than ever before. According to Zendesk, 70 percent of brands see a direct connection between their customers’ experience and organizational performance, and research by Calabrio says 60 percent of consumers have switched brands due to a negative experience.
But keeping up with your members’ expectations isn’t easy, especially when your credit union seems to have fewer in-house resources than it’s had in the past. You may have considered outsourcing some or all staffing for certain functions but worry about the effect this third-party relationship will have on your member experience.
Thankfully, partnering with a CUSO like TruHome is a reliable, cost-effective way to maintain and even enhance member experience when your own resources are tight amid economic uncertainty.
Here’s how a partnership with a CUSO can help your credit union uphold its relationships and connect with members in new ways:
Maintain Consistency and Control Over Your Member Experience
Partnering with a CUSO does not mean the disruption of a consistent, end-to-end environment or brand experience for your members like it would if you were to partner with a big box mortgage lender.
In fact, TruHome partners retain member experience oversight, and often end up being able to deliver a more consistent experience because we provide the resources to become more proactive and responsive with their member engagement.
That remains true whether you choose to outsource the entirety of the mortgage department or only specific components or processes. Regardless of the extent of our partnership, we are committed to maintaining a consistent member experience for your credit union.
That means your members will have a high-quality, friction-free experience, to preserve their trust and satisfaction. All the while, you can benefit from external expertise, purpose-built technology, and the peace of mind that comes with knowing you’re serving your members well without compromising anything.
Maximize Economic Flexibility
Partnering with a CUSO can mean you get to choose which responsibilities to retain, and which to let us handle. This flexibility, which allows you to prioritize and allocate internal resources as needed, means your mortgage department is always able to respond effectively to changing market conditions and member demands.
For example, Mortgage Servicing Rights (MSR) are always retained under our model for portfolio loans. For sold loans, TruHome is able to deliver a co-branded servicing experience to the member. One of the economic benefits of retaining MSR is that (with the right partner,) credit unions keep the ability to leverage the MSR as a financial instrument in their overall balance sheet strategy, including on portfolio loans. This is a financial strategy credit unions often unavailable when using secondary lenders, but TruHome allows you to preserve MSR when available, and maximize the economic advantages of keeping it within your control.
Additionally, TruHome operates on a variable cost structure designed to help you navigate the fluctuations in the mortgage market without unnecessary exposure to excessive risk. We don’t succeed unless you succeed, so it’s in our best interests to help your mortgage department thrive.
Prioritize Personalized Interactions and Relationship-Building with Your Members
Your credit union and the relationship you have built with your members is special. We believe your personal touch and ongoing positive interactions are key to maintaining strong relationships with your members, especially as they start thinking about a mortgage.
Because partnering with a CUSO can help control the destiny of the MSR, ensuring your consistent branding is always front and center. This means you can retain that personal “facetime” with your members when it really matters.
On the other hand, when credit unions partner with big-box lenders, the relationship often becomes transactional, and both repeat business and referrals suffer as a result.
Truhome provides our partners with transparency into every member interaction, ensuring seamless experiences that encourage repeat business and referrals, while enabling your mortgage department to grow as well.
Elevate Your Member Experience with TruHome
We know how much your members mean to you. When you’re looking to secure your place in the mortgage market, prioritizing their experience is paramount.
That’s why we offer our partners a unique opportunity to enhance their member experience by ensuring consistency across touchpoints, taking advantage of economic flexibility and prioritizing facetime with your members.
Because our partnerships are truly customizable to your needs, together, we can build a strategic operating solution that will help you reach your goals and thrive in the ever-evolving financial landscape, all while keeping your members top-of-mind.
Ready to discover how partnering with TruHome can put your credit union at the forefront of member-centric financial services, foster growth in your mortgage department, and lead to long-term success for you and your members?