Installing Mortgage Rates on Your Credit Union Website

As a credit union, you’re committed to offering the best products and services to your members. That means your team of loan officers puts a lot of time and energy into pairing people with the best mortgage products for them. In fact, you might pride yourself on being able to beat out banks and other lending institutions when it comes to rates. 

Why, then, would you keep that information to yourself? Credit unions who don’t publish rates on their websites miss out on a big opportunity. When you give your members the chance to compare rates, you deliver serious value. And if your rates can keep pace with or beat the competition, they give you a way to land new members, too. 

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What real-time rates do for your members — and your credit union

Buying a home is one of the biggest financial decisions most people ever make. As a result, they usually don’t take it lightly. They often do their homework into what the process entails and what they can expect in terms of interest rates and fees. 

And when potential homebuyers hop online to better understand the mortgage process, they’ll find trusted sources telling them the same thing: compare rates. Experts at organizations from the Consumer Financial Protection Bureau to the National Association of Realtors all call out how rate comparison can help homebuyers save money. 

That’s enough to motivate some people to do hours and hours of research to hunt down the best rate. A lot of people lead busy lives, though. Ticking the box of rate comparison might mean a quick glance at a few different lenders’ websites. If you don’t have rates on your site, you might get dismissed from their list of options. 

On the other hand, featuring current mortgage rate averages tells members (and potential members) two important things. First, it lets them know that your team is knowledgeable about the current mortgage market. Secondly, it tells them that your team is committed to giving them the information they need — and to doing so in a way that’s convenient for them. 

This might not be news to you. Plenty of credit unions know that showcasing current rates would be a valuable marketing tool. Still, though, they haven’t yet launched that website feature because they believe it will be a huge lift to both install and maintain.

But it doesn’t have to be.

Our team at BankingBridge specializes in developing tools for mortgage lending institutions, including credit unions. And we’ve developed a number of ways to showcase current mortgage rates. Getting these features up and running on your website is as simple as copy-pasting in some code (which we can help with). And because these website features integrate with your mortgage product pricing engine (PPE), they can automatically update with the latest rate data.  

To give you a better idea of how this could work, let’s look at one of our most popular rate products. We’ve also completed all the complex integrations with these supported pricing engines:

• Optimal Blue
• Mortech
• Loansifter 
• MortgageBot
• Polly
• Lender Price

Rate tables for credit unions

Our rate table tool makes it easy for you to showcase the latest rate averages for a range of mortgage products. Many credit unions add this table to their primary mortgage webpage. Some give the rate table its own dedicated landing page, too, making it useful for search engine optimization (SEO) efforts. 

You can customize the way your rate table displays to best appeal to your members and potential future members. Many credit unions choose to feature all of their mortgage products in their rate table, meaning this gives them an opportunity to showcase what they can offer rate-wise for:

• Fixed-rate loans of various terms (e.g., 30-year, 15-year)
• Adjustable-rate mortgages of various structures (e.g., 5/1 ARM, 5/6 ARM)
• Jumbo loans
• Government-backed mortgages (e.g., FHA, VA, or USDA loans)

In other words, this rate table is a key place to highlight all of the different home financing options that your credit union offers. 

Beyond that, we can build in tools to let website visitors customize their rate from the table. For example, your rate table could include fields to let members input their:

• Zip code
• Home purchase price
• Down payment amount
• Credit score range
• Property type and usage

All of this lets your members collect the preliminary information they want on the frontend of their mortgage exploration process. But that doesn’t mean you have to let them visit your site, then go on their merry way.

As part of the rate table, you can add a call-to-action button (e.g., “personalize my loan”). This lets you generate leads by exchanging a personalized rate quote for some key details about the individual’s home purchase, including their contact information. 

Perhaps best of all, adding this type of marketing tool to your website can be ultra-easy. We’ve already developed the rate table so all you need to do is copy-paste in the code. And if that sounds like too much work, our team can handle it for you.

Plus, our rate table tool integrates with your PPE. That means it automatically pulls new rate info from your PPE to keep the table updated each day — without any extra work from you or your team. 

To see how a rate table could function for your credit union, check out this live example.  If you are using a product and pricing engine like Optimal Blue, Mortech, Polly, Lender Price, MortgageBot or Loansifter you can now have live rates on your website. 

Personalizing rates to your members

While a mortgage rate table is an excellent starting point for credit unions, you can go one step further to tailor rates to your members. And you can do this straight from your site thanks to our customer rate dashboard tool.

This website feature allows your members to explore multiple loan scenarios and price their own mortgage. That takes work directly off your loan officers’ desks. 

And if you’re worried that limits those team members’ opportunity to convert leads, don’t be. We’ve built tracking features into these rate dashboards so you can see how members engage with different options. That way, when your loan officers reach out, they’re empowered by data telling them where members have focused their attention.  

All told, credit unions stand to gain a lot by deploying website features that showcase real-time rates. To find out just how easy it can be to do exactly that, book a demo with our team today. 

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