Northern Virginia Association of REALTORS®

nortern virginia association of realtorsOur Member: Northern Virginia Association of REALTORS®

Member Since: December 2009

About NVAR: The Northern Virginia Association of REALTORS® (NVAR) was established in 1921 as the Alexandria-Arlington-Fairfax Real Estate Board. With about 40 members, the association served a population of 60,250. Eighty-seven years later, NVAR has grown to almost than 12,000 REALTORS® who carry out a $16 billion real estate industry in a community of over 2 million residents. NVAR serves as The Voice For Real Estate in Northern Virginia and provides a variety of services to its members including educational opportunities, professional standards enforcement, market statistics, legislative reviews, issues lobbying, multiple listing and lockbox services, and more.

NVAR’s Chief Executive Officer, Christine Todd, has been with the association for 20 years and a REALTOR® Association Executive for over 30 years. Todd was on the task force that took part in establishing the REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union benefit and thinks that all REALTORS® should take advantage of it.

The Credit UnionWhy did NVAR decide to join REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union?

Todd: We primarily joined to show our support and to support our REALTOR® family. You also had outstanding rates! We couldn’t find any reason why not to do it.


The Credit Union How did you learn about REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union?

Todd: I was actually on the task force to help start it! Tom Stevens appointed me, as well as others, to explore the advantages of creating a credit union for REALTORS®.


The Credit Union What do you look for in a financial services provider?

Todd: Now a day, everyone is looking for financial stability, security and peace of mind that their money is safe and well managed. Of course convenience is important too. Since REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union is virtual, it’s very easy to access. It’s a clean modern way to do business in the 21st century.


The Credit Union How is your relationship with REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union different from your relationship with other financial institutions?

Todd: Obviously it’s REALTOR® friendly. You understand the nature of associations and the fact that most REALTORS® are independent contractors or small business owners. We don’t need to go through a lengthy explanation of who we are and what we do every time we want to do business.


The Credit Union How can real estate professionals benefit from REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union membership?

Todd: They can benefit by knowing that REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union is a user friendly institution. They are investing within the family and the family understands their specific needs. It makes the whole transaction go more smoothly with less hassle and makes REALTORS® feel that they are being treated in a special and customized way.


The Credit Union What are some of the significant accomplishments of NVAR this year?

Todd: NVAR is in the midst of building its new headquarters! It’ll be a 24,000 square foot office building. We’re actually looking to the credit union to help with some of the financing.


The Credit Union What are some of NVAR’s current challenges?

Todd: REALTORS® are having a cash flow problem. We’re coming off of three very bad years. Members are struggling just to make ends meet. We are turning the corner in our market and it’s great to have a credit union who can offer our members the help they may need to finance a new car, a computer or fix up their office. It’s a great comfort to our members.


The Credit Union What is your future vision for NVAR?

Todd: NVAR has positioned itself to be the voice of real estate for Northern Virginia. We are very focused on trying to get the word out about the real estate market to buyers and sellers so they can get their information from the real estate community and not competing forces that are not as knowledgeable as we are.


The Credit Union Do you have any words of advice for real estate professionals?

Todd: Always keep in mind that the real estate market is cyclical. REALTORS® need to take a long term view of their business and be prudent in their spending and saving since so many live on a commission.


The Credit Union What would you say to someone who is reluctant to use a virtual credit union?

Todd: Just invest a small amount and play around and see how easy it is to deposit money and use the ATMs. For $100 you can use the credit union as a guinea pig to using a virtual system. As soon as you do you will be as hooked as I am.


The Credit Union In your opinion – what can we do better?

Todd: The Credit Union may be one of the best kept secrets that NAR has. Be aggressive in the marketing to members and associations.