A key factor in CREB®’s ability to provide this rebate is the sharp rise in last year’s membership numbers, which far surpassed budget expectations, and as a result, drove revenues to exceed budget by a considerable margin.
We have the capacity to continue to provide best in class products, services, and support to our members, while ensuring our reserves are in a healthy range, so this decision is the sustainable right choice.
The net result of operating revenues over expenses is a surplus of approximately $1.7 million, from which approximately $1.1 million is being directly returned to CREB® members through the rebate.
Members can expect to see the $150 rebate in their accounts in the coming weeks.
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