PenFed Realty Partnership With Exit Slater Realty Creates Opportunities for Mortgage Growth
Posted Under: Realty Group
PenFed Realty, LLC Partnership With Exit Slater Realty Creates New Opportunities for Mortgage Growth
A recent partnership between the former owners of Exit Slater Realtors in San Antonio, Texas and Pentagon Federal Credit Union’s (PenFed) subsidiary, PenFed Realty, LLC (PFR), stimulates a dynamic new rebranding effort for PFR and Slater.
Both parties see this arrangement as a new opportunity to gain significant competitive advantage in the San Antonio market and allows for PenFed to expand their mortgage operations in the region.
“There was no question that Slater met our business model profile, and appeared to be the best fit with our organizational credit union culture,” says Shashi Vohra, Vice President of Business Development, PenFed. “Under PenFed Realty’s current business model, the combination of discount brokerage pricing with the service of a full price brokerage, our partnership with Slater will not only allow us to grow our operations in San Antonio and with the military community, but also continue to provide value to our members.”
The credit union offers a full range of mortgage lending products at competitive rates. One of PenFed’s fastest growing loans is the 5/5 Adjustable Rate Mortgage (ARM) which offers no origination fees, and covers most of the lenders fees.
PenFed Realty, LLC was established in the Washington, D.C. metropolitan area in 2006, and is a full service real estate brokerage firm that is a wholly owned subsidiary of PenFed. The division offers comprehensive real estate services nationwide to both PenFed members and non-members alike.
“During the past four years, we have been successful in expanding the PFR brand by creating regional offices in the Washington D.C. metropolitan area and in North Carolina,” states Vohra. “Our sales volume for PFR increased from $105 million in 2006 to $155 million in 2009. PenFed would like to continue to extend our member discount, 1% buyer and seller rebate, in other regions.”
Exit Slater Realtors was formerly owned and managed by Annette Slater of San Antonio, Texas, and has been in business in the San Antonio area since 1966. Slater will continue to work as the managing broker for PFR in San Antonio along with a team of 35 – 40 independent broker agents.
“This partnership will be a valuable resource for many in the San Antonio community,” says Slater. “PenFed is a powerful voice for the military and we look forward to extending our professional services to that community and others in San Antonio area.”
For more information about PenFed mortgage services and to apply for membership, you may visit PenFed.org or call 800-247-5626.
For more information about PenFed Realty, LLC, you may visit PenFedRealty.com or call 800-350-9115.
About Pentagon Federal Credit Union
Pentagon Federal Credit Union is the third largest credit union in the United States, serving approximately one million members, with assets in excess of $14.5 billion. The credit union provides worldwide service to Army, Air Force, Coast Guard, Department of Defense, and Department of Homeland Security personnel; members of the VFW; employees or volunteers of the American Red Cross; and others in the defense community and their families.
