Join VMLA
The Virginia Mortgage Lenders Association has two membership classifications available. These are Regular/Associate Member and Individual Member. A detailed description of each is on the membership application.
Membership Information
- Current state dues for Regular Member and Associate member firms are $695 per year.
- Additional Branch offices are $50 each, to cover the extra costs of communications. (The first office is included in dues; do not pay this fee for the one office designated as the "main" office).
- Individual Member state dues are $195 per year.
- A mortgage company must be a member of VMLA before it can join a local chapter. As a convenience, VMLA collects Chapters' dues and forwards them monthly.
Dues payments to VMLA and contributions to VAMPAC are not deductible as charitable contributions for federal income tax purposes. Donations to VAMPAC are used to support candidates for public office in Virginia. Contributions are voluntary, and refusal to contribute does not affect membership rights. The portion of dues paid by a member to an organization that conducts lobbying is also not deductible based on the ratio of total lobbying expenses to total dues revenue (currently 6%).
Example 1
Lilah Lender works for a large Richmond bank. She wants to join VMLA and the Richmond Chapter. Lilah's bank only has one office. Lilah would pay the $695 VMLA state dues, plus the Richmond Chapter dues of $200. Lilah would join as a Regular Member, since her company is a lender. Everyone at Lilah's bank is eligible to be on VMLA's membership roster, receive communications, and get member prices on VMLA services and events.
Example 2
Bruce Broker has two offices, one in Tidewater and one in Lynchburg. Bruce wants to join VMLA and both chapters. Bruce will pay the VMLA state dues of $695, one additional branch office fee at $50, TMBA chapter dues of $200, and LMBA chapter dues of $50. His total dues for the year are $995.00. Since Bruce is a lender, his company joins as a Regular Member.
Example 3
Otto Originator, a Newport News lender, wants to join VMLA, even though his firm will not pay the company dues. Otto can join VMLA as an Individual Member. Otto would pay $195 for Individual Membership. The chapters currently do not offer provisions for individual members. Individual Membership status means Otto is a member of VMLA, but his firm is not a member, nor is anyone else in Otto's firm.