6.5.25 The Bank and Credit Union Trifecta

Objective

How to generate reverse mortgage referrals from banks and credit unions using the HECM Tool.

🔑 Key Concepts & Strategy Breakdown

(00:10:06–00:13:04) — Why Banks & Credit Unions

• Most don’t offer reverse mortgages.
• They need a trusted referral source.
• Focus on passive referrals: client asks, staff provides your contact.
• Don’t start with joint ventures or paid marketing agreements.

(00:13:04–00:17:58) — The “Trifecta” Referral System

• 3 Key Referral Sources Inside the Bank:
  1. Branch Manager & Staff (Influencers)
  2. Onsite Financial Advisors
  3. In-house Loan Officers (HELOCs, mortgages)
• Banks offer multiple points of leverage for a single contact.

Action Plan with Steps

Step 1: (00:18:52–00:21:36) Research & Target

• Identify 3–5 local banks or credit unions (use Google and LinkedIn).
• Prioritize those with multiple branches, in-house advisors, and mortgage departments.
• Walk in to request to schedule a meeting with the branch manager.

Step 2: (00:21:36–00:26:14) Walk-In Strategy & Scripting

• Be a welcome guest, not an unwanted pest.

• Suggested script:

  “I help retirees 62+ with a government-insured retirement mortgage most banks don’t offer. Is the branch manager available? I’d love to schedule a quick meeting.”

• Leave behind a sample HECM Tool report with a success story.

Step 3: (00:26:14–00:39:42) Exploratory + Solutions Meeting

• Come prepared to demo the HECM Tool live.

  Focus on:

  • Solving HELOC rejections

  • Visual storytelling (not mortgage mechanics)

    Ask:

  • “Do you currently refer reverse mortgages?”
  • “Can you introduce me to your mortgage lead or financial advisor?”
• Offer to present at their staff meeting (bring donuts!).

Step 4: (00:39:42–00:45:54) 30-Day Follow-Up Plan

• Week 1: Thank-you email with recap video of a scenario.

  Week 2–4:

  • Email monthly with a case study or video walkthrough.
  • Send a quarterly postcard (“Evidence of Success” format).
  • Request introductions to advisors and loan officers.
  • Push to speak at branch meetings.

Objections + Q&A Highlights

(00:49:47–00:55:59)

• Objection: “What’s in it for them?”
  • Employees are in a time-and-effort economy (salary), not a results-based one.

  • Pitch it as helping them elevate their value to members and customers.

    Added Value:

  • Reverse proceeds may increase bank deposits.
  • They can refer clients confidently instead of turning them away.

(00:57:02–00:58:24) – Advanced Tip

• Some branches get a “daily late payment list.”
  • Ask: “Do you have seniors on your mortgage late list? I can help take them off it.”

✅ Final Action Items