NCUA Today Charters Federal Credit Union to Serve National Association of Realtors
November 7, 2008, Alexandria, Va. – National Credit Union Administration Chairman Michael E. Fryzel announced that Realtors Federal Credit Union (FCU), headquartered in Rockville, Maryland, was chartered today to serve members and employees of the National Association of Realtors.
Realtors FCU will operate as an Internet based credit union without physical branch locations. The credit union plans to offer a wide range of products and services such as share drafts, ATM and debit cards, Internet banking and electronic bill-payer, courtesy pay, mortgage and home equity loans, and an audio response system. The credit union will have a national field of membership.
"I am pleased to extend this financial service option to the National Association of Realtors,” Chairman Michael Fryzel said. “The real estate industry fills an essential front-line role in America's economic life, and the choice and flexibility afforded to NAR members by access to credit union service makes this a logical endeavor. Their efforts to enhance the value of membership through this new credit union are commendable."
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 89 million account holders in all federal credit unions and the majority of state-chartered credit unions.
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