In 2007, the National Association of REALTORS® (NAR) developed a series of projects under a strategically focused program titled Second Century Initiatives, to support the professional and personal interests of REALTORS® . From this program, NAR determined the need to create a credit union designed specifically to meet the unique financial requirements of REALTORS® . In November 2008, at the REALTORS® National Conference & Expo in Orlando, NAR announced that they had received regulatory approval and a charter was granted to form our Credit Union by the National Credit Union Administration.
The Credit Union then began operations as the first virtual credit union, serving thousands of REALTORS® through innovative banking products nationwide. In August 2012, to further expand our operations and continue our goal of providing members of National Association of REALTORS® with the most comprehensive menu of banking services possible, we merged with Northwest Federal Credit Union. Northwest Federal
, is a $2.2 billion credit union headquartered in Herndon, Virginia with a 65-year history of financial excellence. With this merger, our Credit Union members gained access to more than 5,000 shared branch service centers nationwide, 7 full-service branch locations in the Northern Virginia area, plus an enhanced product offering including business checking, mortgage loans, commercial real estate loans and more.
While the Credit Union works in partnership with NAR as a REALTOR Benefits� Program
Partner, we are a totally separate entity from NAR, with our own board of directors and management team. The Credit Union is not-for-profit and is a fully independent legal entity that is wholly-owned by its members. Eligible members include members of America’s largest trade association, NAR, which represents over one million members involved in all aspects of the residential and commercial real estate industries.
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