Offer higher quality loans

Lower interest rates should be good news for members. But every time rates go down, you have to staff up to help members refinance their loans. If a member chooses to refinance with a new lender, you incur hefty transaction costs from writing a new loan to replace it. The rate-resetting feature of the HarmonyLoan allows the member to lower their interest rate with the click a button. They avoid the arduous refinance process and there’s no need for you to hire additional staff.

Improve member lifetime value

The longer you keep a member, the more opportunity you have to build a relationship and serve their other financial needs. The average life of a mortgage today is two to three years. Our data suggest the average member will stay in a HarmonyLoan for at least six to nine years.

CUMA adopts the HarmonyLoan™

We are thrilled to have been able to move an innovative mortgage product like the HarmonyLoan™ from announcement to closed loan in under three months.
Scott Toler, CEO
Credit Union Mortgage Association

To learn more about how we work with our credit union partners, click here.