The $1.4 billion American Heritage Federal Credit Union in Philadelphia has joined the list of credit unions that have their own real estate brokerage.
The 130,000-member credit union has created a wholly owned subsidiary and has agreed with Better Homes Realty to create Better Homes of American Heritage Federal.
The credit union said the brokerage will offer home buyers and sellers a 20% discount on the company's typical sales commission and that its CEO will be Mike Powers, a former regional vice president of GMAC Real Estate and regional director for Prudential Real Estate.
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