Golden Gateway Financial announced that it has been selected by Prime Alliance Solutions as its exclusive provider of reverse mortgages for its credit union customers. Prime Alliance Solutions is a leading technology provider for more than 1,600 credit unions which reaches more than 3,500 branches across the country.
"In these tough economic times, credit unions are looking to provide their members with the widest array of financial options possible," said Gary Fee, president of Prime Alliance Solutions. "Golden Gateway Financial is a best-in-class complete reverse mortgage solution that allows us to give credit unions what they need in the quickest, most cost effective, and simplest way possible."
As part of the agreement, Golden Gateway will offer a white label solution for Prime Alliance’s network of credit unions which includes a web interface, reverse mortgage comparison tools, and member sales and support, so that they can immediately provide this valuable service to their members. In return, Prime Alliance Solutions will market and distribute the company’s reverse mortgage offering exclusively to its network of credit unions.
The first customer of this new partnership is BECU (Boeing Employees’ Credit Union), the leading credit union in the state of Washington and the nation’s fourth largest with more than 600,000 members and assets in excess of $8.7 billion.
"We were searching for a seamless reverse mortgage product that provided the same high level experience our members have come to expect," said Tom Berquist of BECU. "Now, we are better equipped to meet the needs of our members by offering additional value across a wide range of superior financial products."
Golden Gateway Financial will deliver educational and marketing materials to help BECU begin a dialogue with their membership about the benefits of a reverse mortgage.
"Now more than ever, Americans are turning to community lenders in order to work with those they know and trust," said Eric Bachman, founder and CEO of Golden Gateway Financial. "Credit unions have historically done a great job of putting Americans into homes more affordably, now through these exclusive relationships they can help older Americans extract value from those homes and improve their lives in retirement."