TEMPE, Ariz. — Tom Glatt, who has served as president/CEO of Continental Federal Credit Union since 2006, has been hired as the new CEO of the newly-chartered Realtors Federal Credit Union.
Glatt will take the helm on Dec 15. Chartered in early November, the Rockville, Md.-based credit union will serve the National Association of Realtors, a trade group representing 1.2 million members. Scheduled to open in mid-2009, Realtors is the first internet-based credit union to serve the members of a single, nationwide association without branches, according to NCUA.
A well-known industry veteran, Glatt has held several senior management positions at credit unions and for 16 years, was president of Counterintelligence Associates, a firm founded by his wife, Diane Johnson.
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"It is with a greatly conflicted heart that I will be leaving," Glatt said. "I'm not leaving to run away from Continental. I'm leaving Continental in great shape. The credit union and the board have been through a lot together over a short period of time. I'm in love with this credit union."
Glatt said his decision to throw his name into the hat for the Realtors FCU CEO position came from taking his career in another direction. The cross country move from Arizona to Maryland will, in fact, allow him to spend more time with his wife, he said.
"We are proud that such a distinguished leader of the credit union industry as Tom Glatt will be heading this new organization. We are glad he will be part of our extended family," said NAR CEO Dale Stinton.
In March 2007, Continental FCU was embroiled in what some considered to be the industry's first CU to CU hostile takeover attempt by $1.9 billion Wings Financial Federal Credit Union. NCUA eventually intervened saying a $200 payment tactic targeted at Continental members by Wings Financial was impermissible under the Federal Credit Union Act.
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