Realtors See Credit Unions Only As Place for Cheap Car Loans

LAS VEGAS – (Nov 18, 2008) Credit unions made a little bit of progress at last week’s National Association of Realtors convention, but American Credit Union Mortgage Association President Bob Dorsa said he’s frustrated with the industry’s image among Realtors.

“Probably half the Realtors I spoke to belong to a credit union somewhere, but they just couldn’t seem to make the leap to referring credit unions to their clients,” Dorsa said. “Like most members, they see the credit union only as a good place to get a cheap car loan, as frustrating as that is.”

Dorsa also said most Realtors assumed their clients weren’t eligible to join any credit union, and didn’t understand the community charter concept.

The ACUMA leader said he hopes the newly approved Realtors Federal Credit Union will help raise credit union awareness among realtors.

Though he was in the exhibit hall for most of the Orlando event, Dorsa said he thought attendance was down this year by at least 5,000 people, compared to last year’s NAR conference in Las Vegas. (CU Times)