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As the real estate market remains strong in most of the West, two credit unions are reminding their members they can earn cash back on their home purchase or sales transactions by participating in financing rebate programs.
Members of both Wescom Credit Union here and Olympia, Wash.- based Washington State Employees CU can collect rebates of up to 20% of their real estate agent's 3% commission.
Both credit unions require members to enroll in the program before they begin working with a real estate agent, and they must use participating Realtors. WSECU has an exclusive relationship with Coldwell Banker; while Wescom works with Coldwell Banker, Dilbeck Realtors, Prudential and Professional Agent Referral.
George Shipman, vice president of real estate lending for WSECU, told The Credit Union Journal the rebate programs of both his CU and Wescom originated from a common source-the Southern California credit union real estate network, or CUREN. A CUREN is a regional group dedicated to the real estate lending areas of credit unions. CURENs allow people from real estate departments to share expertise, best...