LIMA, Ohio—Superior Credit Union has announced that its subsidiary, Superior Financial Solutions, has acquired Yocum Realty, a real estate brokerage firm here.
The acquisition adds to Superior’s Financial Solutions’ current home and business-related offerings of mortgage origination, title services, and property and casualty insurance.
"Yocum Realty has a strong presence and great reputation in West Central Ohio," said Phil Buell, president and CEO of the $625-million Superior CU. "We believe this will be a true benefit to our current and new members as we provide them convenient access to real estate brokerage services. As West Central Ohio’s mortgage leader, offering our members brokerage services will further enhance the buying and selling experience.”
Yocum Realty was founded in 1961 by R.L. Yocum. Tim Stanford has owned the firm since 2002. Today, the firm has 26 agents serving West Central Ohio. Stanford will continue in his current role and has been named vice president of real estate services. The agency will also maintain its office at 430 S. Cable in Lima, the CU stated.
“I have worked with Superior for years and always felt they shared Yocum’s commitment to outstanding service," said Stanford. “When we started discussing this opportunity with Superior, they really had a vision of how we could fit into the bigger Superior picture and provide even more value to buyers and sellers. We are thrilled to become a part of the Superior team. The news has created a lot of enthusiasm among our agents.”
"Several credit unions nationally have incorporated this business model with great success," said Kurt Neeper, senior vice president of Superior Financial Solutions. “With real estate, mortgage, title, and insurance services, we can now serve a buyer from beginning to end and dramatically simplify the real estate process.”
Michael Bell, attorney and counselor with Royal-Oak, Mich.-based Howard & Howard, who represents Superior, said the acquisition is an example of how credit unions can speed up growth through non-traditional means.
“I credit Superior for their creativity and focus on strengthening the credit union for the benefit of the members,” said Bell, who also has been part of 12 CU/whole bank deals, including one merger of a bank into a credit union.