Category: About

What is the MRFCU?

MRFCU, or Metro Realtors® Federal Credit Union, is a Credit Union, or financial institution that is separate from LIBOR, but that services LIBOR members, employees, and their families. It is organized by 13 Board of Directors, 4 Officers, a 3-member Credit Committee, and a 3-member Supervisory Committee, all who support your credit union voluntarily.

 

What happened to Long Island Realtors FCU?

Long Island Realtors FCU was the original name of Metro Realtors FCU. On December 1st, 2018, LIRFCU officially changed it’s business name to Metro Realtors Federal Credit Union. LIRFCU was not bought out by, or merged with a different institution. The Board of Directors decided to change our name to more accurately represent the growing membership that we serve. Existing members were not negatively affected by the adjustment. We simply chose to continue our 45+ years of quality service to the community as Metro Realtors FCU.

What is the difference between a Credit Union and a Bank?

Banks and Credit Unions are both Financial Institutions. However, Credit Unions are not-for-profit. When you become a member of a Credit Union, you also become an owner. As a credit union does well, the profits are passed on to our member/owners in the form of dividends, useful services and competitive rates.

Who can become a Member of MRFCU?

MRFCU membership is available to all members of the Long Island Board of REALTORS® (LIBOR), their relatives, all members of the New York State Association of REALTORS® (NYSAR), their relatives, and employees of LIBOR and their relatives. Relatives of current MRFCU members are also eligible.