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NAR plans to create credit union and tech incubator

Dues increase in 2008 will support major initiative

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The National Association of Realtors will raise membership dues in 2008 as part of an initiative that has a goal to raise $60 million to $100 million in the next three to five years for a variety of projects, including the creation of a technology corporation and a credit union. The $16 annual dues increase approved by the association's directors on Saturday would bring NAR membership dues to $80, a rate that would continue through at least 2010. Also, directors approved a continuing special assessment of $30 per year in 2008 to pay for the advertising related to the association's public awareness campaign and an increase to $35 per year for that special assessment in 2009 and 2010. Membership in the association, which reached a peak of 1.36 million last year, is projected to dip to 1.32 million this year and 1.17 million in 2008 before rising to 1.18 million in 2009 and 1.24 million in 2010. Dale Stinton, the association's CEO, said in a presentation to the group's directors on Saturd...