Friday, January 20, 2012

REALTORS(R) FCU Reports Solid Growth

Since it opened in May 2009, the REALTORS® Federal Credit Union (FCU) has become a significant benefit among National Association of REALTORS® members, offering a diverse portfolio of services and products. Since then, REALTORS® FCU has experienced unprecedented growth in membership.

Most recently, REALTORS® FCU was rated as the fastest growing credit union in the country by Callahan & Associates, a leading credit union information source. REALTORS® FCU ranked number one in organic membership growth which neared 25 percent between June 2010 and June 2011. Over the 12-month time period, REALTORS® FCU also grew its loan portfolio by 10.66 percent. Currently, REALTORS® FCU has 7,501 members with total assets of $77.9 million.

“REALTORS® FCU is one of NAR’s most valued member benefits,” said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. “Credit union members have access to an assortment of products and services, as well as tremendous rates and fewer fees than with other institutions. The rapid growth REALTORS® FCU has experienced comes as no surprise because it was established with REALTORS®in mind. And now that REALTORS® FCU has a mobile banking app, we expect even greater growth.”

REALTORS® FCU recently began offering a free mobile banking app for its members; the app is available for iPhone, Android and Blackberry. After just eight weeks, nearly 14 percent of REALTORS® FCU online banking users had downloaded the app, which currently has more than 600 registered mobile users.

“The industry average for mobile banking users after this amount of time is typically between 5-7 percent,” REALTORS® FCU Executive Vice President & Chief Operating Officer Jesse Boyer said. “REALTORS® FCU surpassed this and we continue to sign up new users every day. Mobile banking allows our on-the-go members to access account information, transfer funds, review transactions, and find ATMs from the convenience of their mobile device.”

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