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Realtors association creates task force to form CU
CHICAGO (11/28/07)--The National Association of Realtors (NAR) added a realtor to its 10-member task force in charge of forming a credit union for the organization’s 1.36 million members and their families. Jeff Barnett, vice president and regional manager for Alain Pinel Realtors in California, is a policy advisor in local, state and national real estate associations (RISMEDIA Nov. 26). “Creating a credit union of this scale is a huge, national initiative for the organization,” Barnett said. “Realtors and their families nationwide will benefit by having a credit union of its own.” NAR directors voted Nov. 16 to initially fund the credit union with a $10 million grant, using association money. A supplemental grant of $5 million can be used any time during the next five years if needed, said NAR. Barnett joins Pat V. Combs, NAR past-president; Dale Stinton, NAR CEO; Michael Brodie, NAR past-treasurer; Jim Helfel, NAR treasurer; and Richard Rosenthal, past-president of the California Association of Realtors on NAR’s financial policies subgroup to establish the credit union. Once the credit union is formed, a regulatory board will be established from the task force to direct and manage the credit union.


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