Great News! Offering PenFed Membership just got easier!
Membership eligibility criteria now only based on YOUR client’s side of the transaction!
What does this mean for you?
Simpler eligibility guidelines i.e., fewer restrictions when offering membership.
More of your clients will be eligible for PFCU Membership.
More clients will be receiving gift card incentives.
More bonuses for you!
(Note: There is still time in our special enhanced Membership promotion to give your clients/new members a $150 gift card, instead of the standard $100 gift card!)
Examples of transactions ELIGIBLE for Membership:
We represent a buyer purchasing new construction – Your buyer client is ELIGIBLE!
We represent a seller when the buyer is an LLC – Your seller client is ELIGIBLE!
Examples of transactions NOT ELIGIBLE FOR MEMBERSHIP:
Your PenFed Client is a Specific entity – LLC, commercial, trusts, bank-owned properties, relo client
Certain business development leads – Please review the business development referral acknowledgment to determine your client’s eligibility. Many broker-to-broker referrals may be eligible for membership.
MEMBERSHIP DISCLOSURE - Compliance Update:
As you know, for Fair Housing purposes, membership should be offered to ALL eligible PenFed Clients, and the Membership Disclosure form should be completed for those eligible.
Beginning July 15th, federal privacy laws will begin being enforced on all PenFed Membership Disclosures and Verifications:
We are required to adhere to federal privacy laws and ARE NOT allowed to search for client information unless the Membership Disclosure Form is completed correctly in its entirety and signed.
If a client is obtaining membership, the disclosure MUST be completed to include the client’s complete information as noted on the membership application (please see example below)
If the Membership Disclosure is not completed correctly, we will not be able to issue client gift cards or payout the agent membership bonus to any transaction.
Completing the Membership Disclosure properly to adhere to Federal Regulations
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