In November, NAR members, association staff and their family members have a new choice for their credit needs: the official REALTOR® Credit Card. Through NAR’s REALTOR Benefits® partnership with REALTORS® Federal Credit Union, a Division of Northwest Federal Credit Union, NAR members can now apply for the card program that includes exclusive REALTOR®-branded designs and specialized branding options.
The Credit Union was selected as the provider based on their competitive and creative product offering and their unique ability to meet the needs of NAR Members. In this case, the new credit card carries multiple benefits for REALTORS®.
“Through our partnership with the Credit Union, we’re able to offer an extremely attractive option for meeting your personal or business credit needs,” says Bob Goldberg, NAR senior vice president, Marketing and Member Benefits. “In addition to instantly identifying cardholders as REALTORS® and supporters of homeownership, this new credit card carries competitive features, including specialized designs and branding options, no annual fees and a comprehensive rewards program. This new offering fits well within the goal of the REALTOR Benefits® Program: to provide valuable services that help our members better manage their business and personal lives, while also saving them money and offering rewards to enhance their purchasing power.”
“Our work with the Credit Union to offer this official REALTOR® Credit Card underscores NAR’s commitment to providing all members and association staff with the tools and resources to help them succeed in the real estate marketplace,” says NAR Former President Martin Edwards, Jr., CCIM, who serves as a director and member representative on the Board of Directors for REALTORS® Federal Credit Union, a Division of Northwest Federal Credit Union. “We are pleased to be able to offer NAR members specializing in residential and commercial real estate, association staff and their family members a new choice in credit.”
Application Starts with Membership
Applications are available for establishing both business and personal credit cards to all new and current Credit Union members. Credit Union membership is open to NAR members as well as national, state and local REALTOR® association staff and their immediate family members who also hold a savings account with the Credit Union.
The new, personal consumer and business credit cards will make their official debut at the REALTORS® Conference & Expo in New Orleans—but brokers and agents are encouraged to apply any time. If you are not yet a member of the Credit Union and would like to apply for a credit card, it’s easy to open a savings account to become eligible—and, as of November 1, the minimum balance to open an account is $1. However, the Credit Union will deposit the $1 into your account to start your Credit Union membership. There will be no cost to you.
Card-Carrying Features and Benefits
The credit card offers competitive features that make it a logical financial choice—as you have come to expect from your Credit Union. Features and benefits include:
- Personal Credit and Business Credit Card: Offering a competitive APR, no annual fee, no balance transfer fee and no cash advance fee.
- Customized Design: REALTORS® have a variety of choices, including customized real estate-themed designs and REALTOR® branding options specifically for residential or commercial practitioners. Additional design options that represent real estate and homeownership are available for family members and non-member association staff.
- Imprinted Message: Options to include an imprinted tagline or title below the cardholder’s name such as “REALTOR®,” “Commercial Real Estate,” “Association Management,” or “Home Ownership Matters.”
- Rewards Program: Full-featured rewards program that allows cardholders to earn reward points for purchases and redeem for cashback, travel, merchandise, event tickets, charity donations and more.
- Annual Fee Waiver: No annual fee for either the personal or business credit cards—a value of $85 on business credit cards.
- Additional Products: Secured credit cards and reloadable prepaid debit card (scheduled for 2015) options will also be available as part of this program.
One of Many Benefits from Your Credit Union
The options and features of the REALTOR® Credit Card reflect how the Credit Union understands the unique needs of NAR members. Your Credit Union provides the best variety of financial products for REALTORS®, including:
- Virtual banking, including personal financial management tools and state-of-the-art online banking services
- Savings and investments products, such as traditional, money market, retirement savings accounts and more
- Checking, debit card and access to thousands of ATMs
- Loans and lines of credit for personal, automobile and
- Member Service Center Representatives to answer your questions
- And for businesses, small business loans and lines of credit (up to $50,000), membership eligibility and credit qualification apply.
Bob Goldberg is NAR senior vice president, Sales & Marketing, Business Development & Strategic Investments, Professional Development, Conventions.
For more information, visit www.realtor.org.