SOURCE: ACUMA

ACUMA

September 01, 2010 12:30 ET

ACUMA's National Conference Highlights Essential Role of Credit Unions in Economic Recovery

ACUMAtv.com Will Reveal Credit-Union Opportunity to Seize Mortgage Market Share Amid Unstable Banking Industry and Consumer Flight From Banks

LAS VEGAS, NV--(Marketwire - September 1, 2010) -  Hundreds of American Credit Union Mortgage Association (www.ACUMA.org) members will convene on September 15-18 in Las Vegas to attend its national conference and listen to a cast of nationally renowned speakers explicating the financial opportunities for credit unions in mortgage lending. ACUMA will open the conference to virtual attendees through a live telecast, an affordable option in a capital-deprived business economy. The live telecast will be made available on the Web site www.ACUMAtv.com at a fraction of the cost of attending in person. The conference's accessibility through the live telecast and reduced fees reflect ACUMA's efforts to accommodate business professionals who have experienced financial hardship as a result of the flagging economy.

With nearly 8,000 credit unions serving over 91 million members nationwide, credit unions' total origination volume has gained momentum, with a record $90 billion in mortgage loans set in 2009. Expectations are high for these numbers to grow, supporting the trend that consumers are increasingly shunning banks and turning to credit unions for their lending needs, including mortgages. "In the consumer space, credit unions are the best-kept secret," says Bob Dorsa, ACUMA's president. "Our organization is dedicated to making credit unions a household term, which is why we've chosen to broadcast the conference online. Anyone who's working toward America's economic recovery needs to take a good look at credit unions -- and that includes realtors, consumers and credit unions."

Expert Speakers Advocate Credit-Union Industry as the Go-To Solution
Conference speakers will give a thorough, accurate assessment of consumer needs and the ways credit unions can meet them. "Attendees will go away with a solid grasp of the pulse of the market," says Dorsa. "They will understand the kinds of mortgage loans consumers need, the kinds of consumers who are in need, and the most profitable ways to deliver the products and best serve consumer needs." A solid grasp on the current state of the market gives credit unions the essential tool it needs not only to outlast the economic recession but also to thrive in the economic recovery. Both consumers and players in the mortgage-lending industry will approach credit unions as the go-to solution for their financial health.

The speakers include nationally renowned experts, such as Jim Gillespie, Coldwell Banker Real Estate Corporation's president and CEO; Larry Platt, practice area leader of K&L Gates; Executive Vice President Ann Clurman of The Futures Company; and Tom Millon, Capital Markets Cooperative's president and CEO.

Nuts-and-bolts of the Credit-Union Mortgage Industry Unveiled
The conference, designed to give attendees intimate knowledge of the ins-and-outs of mortgage lending and the means toward profitability, will provide in-depth lecture presentations and breakout sessions, covering a variety of hot topics, including:

  • the state of the capital markets, including for conventional and government loans
  • the state of the mortgage market and real estate brokerage market
  • adoption of new, unique secondary market strategies
  • compliance with new, complex regulations, including S.A.F.E.
  • effective loss mitigation strategies
  • emerging trends in generational marketing, social media and technology

While banking institutions have pulled back, credit unions, operating under a relationship-based business model, have proven their worth by maintaining asset quality and capital, and ultimately delivering the right mortgage lending products to consumers. "Credit unions are organized solely to meet the needs of their members," says Dorsa. "And they continue to actively extend mortgage loans. It's a great time to do business with credit unions."

About ACUMA
The American Credit Union Mortgage Association (www.ACUMA.org) is the only non-profit credit union trade organization dedicated to the principle that credit unions have an obligation and competitive need to become premier providers of home loans for their members. Its member organizations comprise 280 federal and state chartered credit unions and CUSOs, mortgage insurance companies, secondary market investors, investment banking firms and mortgage banking-related technology companies.

General registration information for ACUMA's annual conference can be found at www.ACUMA.org. Registration for the live telecast, which includes live video streaming and 15 hours of Internet broadcasting, can be completed at www.ACUMAtv.com.

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