ADDISON, Texas–CU Members Mortgage has named the winners of its annual Credit Union Elite Partners Club program for the 2016/2017 fiscal year. The winning credit unions’ achievements were based on CU Members Mortgage’s scorecard process that evaluates its partners’ mortgage department annual performances, according to the company.
The credit union recognized include, by category:
- Direct Lending: Austin Telco Federal Credit Union, Texans Credit Union, and Credit Union of Texas
- Fulfillment Services: Arizona Federal Credit Union, Benchmark Credit Union
- Correspondent: Elements Financial Federal Credit Union
- League: Cornerstone Credit Union League
Each award was presented based on the credit unions’ scores using CU Members Mortgage’s unique scorecard, according to the company.
“This scorecard process was developed to emphasize how credit unions evaluate the progress, effectiveness, and quality of their mortgage programs,” the company said. “The scorecard takes into account factors such as 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.”