PRESS RELEASE - CU TIMES – October 2003
Prime Alliance Solutions, Inc. and CU Members Mortgage Join Forces
Tukwila, WA. - “Joining forces with organizations that provide mortgage services to
credit unions whose strategies don’t include working directly with the secondary market
has been important to Prime Alliance Solutions since we opened for business in 2001.
Being chosen by CU Members Mortgage, the premier provider of mortgage services to
credit unions in the Southwest is gratifying, and proof-positive that we have a winning
model,” said Joe Brancucci, President and CEO of Prime Alliance Solutions, Inc.
“CU Members Mortgage has been instrumental in providing mortgage services to credit
unions since the early 1990’s,” said Linda Clampitt, Vice President of CU Members
Mortgage. “Our business model has always been put members first, and exceptional
levels of service have been our hallmark. Prime Alliance Solutions was a natural choice,
our strategies are so closely aligned,” continued Clampitt.
CU Members Mortgage’s 375 credit unions will begin using the Prime Alliance platform
before the end of 2003 through Prime Alliance’s distinctive ‘parent-site’/’child-site’
technology. “Child-sites’, with some or all or any combination of the parent-sites
features can be created. “Each of our credit unions has different loan programs, and
prices their loans differently. Prime Alliance’s technology makes it possible to deliver
this level of differentiation and enables us to easily manage a high degree of variability
among our customer credit unions,” added Clampitt.
“It’s time that credit unions achieve the same, impressive market share levels in mortgage
lending that we’re so proud of in other areas. There’s no place members would rather
borrow for their homes, and we’re finally making mortgage loans broadly, readily and
easily available through organizations like CU Members Mortgage,” added Brancucci.
“Finding organizations as committed and focused as our own is more than rare. We
couldn’t be more pleased to be working with CU Members Mortgage,” concluded
Brancucci.
Prime Alliance Solutions, Inc., a credit union service organization, serves 64 credit
unions and credit union mortgage companies. This unique group provides mortgage
lending services to more than 12% of all credit union members and over 600 credit
unions. Among them are 31 of the top 100 credit union mortgage lenders. As a group,
they accounted for 18% of all credit union mortgage volume in 2002.
CU Members Mortgage, a division of Colonial Savings, specializes in mortgage
programs and services for credit unions and their members. Personnel completely versed
in credit union philosophy provide over 150 loan products and superior service credit
unions expect. With a servicing portfolio of more than $7 billion, the company has
earned Bauer’s coveted 5-Star rating, as well as the Fannie Mae “Excellence in
Servicing” award.