Changes at the top for NAR credit union 
Startup remains in red nearly 2 years after launch
By Matt Carter, Monday, August 30, 2010.
Flickr image courtesy of Steve Snodgrass.Nearly two years after launch, the National Association of Realtors' "virtual credit union" has enticed less than 1 percent of NAR members to join and continues to operate at a loss, financial reports submitted to the credit union's federal regulator show.
Although Realtors Federal Credit Union is classified as "well capitalized," the credit union has a new management team in place who must boost membership or cut costs in order to get the startup venture in the black.
NAR announced founding President and CEO Tom Glatt was stepping down on July 30, attributing his departure to Glatt's wife landing a job in New Jersey.
more...
Premium Member account.
Premium Members have full access to all news archives & premium content.
Purchase Premium+ Membership for $99/year OR
Premium Membership for $49/year
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
