Number one among more than a third of those answering was that Realtors "can refer members' purchase mortgage loans elsewhere." The next biggest fears were that agents "can provide poor service" and they "may not understand/work well using our processes."

Yet, the white paper notes, credit unions' concerns were not borne out in the survey data. When asked about the most relevant advantages to Realtor relations, 41.2% said they were "a great value-added resource for our members." Just as many said Realtors "can help us keep our members' purchase mortgage loans at the credit union." And another 17.6% percent continued that theme, stating real estate agents "can refer new business back to our credit union."

Mike Corn, president/CEO of CU Realty Services, said while some credit unions thought they might lose first mortgage loans by working with agents, just the opposite happens.

"Credit unions worry they'll lose first mortgage loans, but our client credit unions saw business grow," he said. And while some also are afraid members will receive poor service, members whose credit unions had strong real estate programs gained significant service benefits, Corn said.