RFCU offers indirect lending, booking some $220 million in auto loans in 2010.
Also on the list of challenges is the fact that RFCU is going through a core conversion after being on the same system since 1987.
After the merger, the opportunity to join RFCU came along.
Up-front costs to build a completely branchless delivery system included expenses to develop marketing materials centered on a new brand identity, recruiting and hiring staff, and building RFCU's administrative offices, Pannier explained.
However, NAR's seed money certainly contributed to RFCU's growth since it launched, Pannier said.
By far, RFCU's biggest operational expenses are associated with the technology necessary to securely and efficiently deliver products and services to members, Pannier said.
Glatt previously told Credit Union Times that RFCU partnered with 30 vendors to make the virtual CU a reality.
According to NCUA Call Report data, RFCU earned slightly more than $800,000 from interest income, investments and other sources.
With a net worth ratio of 13.93%, RFCU is considered well-capitalized.
RFCU already offers business deposit products such as savings, money market and certificate accounts.
NAR also has more than 1,400 potential associations, board and multiple listing services that RFCU is looking to tap.