GLATT TIDINGS TO RFCU

The Realtors Federal Credit Union (RFCU) announced the appointment of Thomas A. Glatt Sr. as its top executive. As RFCU’s first CEO, Glatt will oversee the company’s development leading up to a mid-2009 opening. “This credit union is tailor-made to accommodate the work habits and lifestyles of Realtors, most of whom are independent contractors compensated by commissions,” says NAR President Charles McMillan. RFCU will be Internet-based and accessible around the clock. Glatt says that the first order of business is to assemble his senior management team, a process that has already begun. RFCU use is limited to Realtors, their families, the staff of local and state Realtor associations, and members of NAR’s institutes, societies and councils. RFCU is a not-for-profit cooperative owned by its members and directed by an elected volunteer board. Like other credit unions, RFCU is a stand-alone entity, and earnings will flow back to the credit union and its members, not to NAR.

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