Laurel, MD – Tower Federal Credit Union has returned over $2 million in Cash Rewards to members who have bought or sold a home through the credit union’s HomeAdvantage® program. This amount is in the top four rebate totals of more than 100 credit unions currently participating in the program, offered by CU Realty Services, LLC. Tower is one of only a handful of credit unions nationally to be inducted in to CU Realty’s inaugural Two Million Dollar Club, which recognizes credit unions that have paid out $2 million or more in HomeAdvantage Cash Rewards.
HomeAdvantage is a turnkey real estate program that provides members with online tools to search for homes, set up MLS property alerts, connect with local real estate agents, and more, says Barry Stricklin, Tower’s Senior Vice President & Chief Lending Officer.
Stricklin says the program engages prospective home buyers early in the process, helping them to search for a new home and/or sell their current one. They are paired up with a qualified real estate agent in the HomeAdvantage network that specializes in their area, and if they choose to work with that agent, they earn cash back at settlement.
“Buying a home is one of the biggest decisions our members will make over their lifetime, and Tower wants to take the stress out of the home buying and selling process,” Stricklin says. “We are here for our members from start to finish—from connecting with a local real estate agent, to searching for their new home, to obtaining financing, to convenient in-house settlement services, and even cash back at closing.”
On average, Tower members save over $1,700 in cash bonuses when purchasing a home through HomeAdvantage, according to Stricklin. “That is a significant member benefit,” he says. “Tower is always looking for ways to improve our members’ financial well-being and this program is a great way for members to leave the closing table satisfied with their new home—and with some money in their pockets.”