WASHINGTON (12/2/08)--Thomas Glatt Sr. has been named the first CEO of the new REALTORS FCU (RFCU), effective Dec. 15, the credit union's board of directors announced Monday. A 20-year veteran of the credit union movement, Glatt is currently CEO of Continental FCU, Tempe, Ariz., which serves airline industry employees. He also served in executive positions with OnPoint Community CU (formerly Portland Teachers CU), Portland, Ore.; First Financial FCU, West Covina, Calif; and 66 FCU of Philips Petroleum, Bartlesville, Okla. For 16 years, he headed a credit union consultancy that advised some of the nation's largest credit unions. He also has been a member of the boards at USA FCU, San Diego, and Kaiperm FCU, Oakland, Calif. The National Association of Realtors (NAR) is providing the credit union as a member benefit, said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokers in Dallas-Ft. Worth. He noted the new credit union is tailored to the work habits and lifestyles of realtors, most of whom are independent contractors compensated by commissions. According to NAR CEO Dale Stinton, the new credit union will be open 24/7 and is Internet-based. RFCU is scheduled to open for business in mid-2009. Those eligible to become members of the credit union include: realtors and their families; NAR's institutes, societies and councils; NAR staff; and the staffs of state and local boards and associations. NAR clients, such as home buyers and home sellers, are not eligible.