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CU System
CU System briefs (04/13/2009)
* LYNCHBURG, Va. (4/14/09)--Alcoa Richmond FCU, which served employees of Alcoa in Richmond, Va., has merged with Virginia CU, also based in Richmond. The merger was effective April 1. Members of the $2.1 million asset Alcoa Richmond voted March 6 in favor of the merger after its sponsor company announced it was phasing out its Richmond operations. Virginia CU had assets of nearly $1.7 billion before the merger (Richmond Times-Dispatch … * ST. PAUL, Minn. (4/14/09)--Fort Snelling FCU (FSFCU), Minneapolis, has merged resources with Hiway FCU, a $739.5 million asset credit union in St. Paul. The merger became effective March 31. The combined credit union will retain the Hiway name. Fort Snelling had more than $33.6 million in assets and 5,500 members. "During this time of economic challenge, we looked to align ourselves with another credit union to create a stronger, sustainable financial organization," said Diane Menton, FSFCU president/CEO. She noted its members "will now have access to Hiway's expansive array of products, services and benefits." Hiway President Jeff Schwalen said the credit union "will keep all members up to date on the integration of our organizations through our website, newsletters and by mail." … * MERIDEN, Conn. (4/14/09)--Thirteen credit unions from Connecticut and 10 private businesses participated April 1 in a REAL Solutions Financial Reality Fair for area high schools, held at Central Connecticut State University. More than 200 students from eight high schools went through the paces of making real world financial decisions as independent adults. Students such as those pictured here chose an occupation that interests them and researched their salary, then made living choices in areas such as housing, transportation, food and clothing, insurance, entertainment and other budget categories. "We feel strongly that we have a responsibility to provide financial education," said Andrew Klimkoski, president/CEO of Achieve Financial CU, Berlin, and chairman of the organizing committee. (Photo provided by the Credit Union League of Connecticut) … * HIGHTSTOWN, N.J. (4/14/09)--The New Jersey Credit Union Foundation has granted money to Junior Achievement (JA) to host a JA Day program at Abington Avenue School, Newark on May 28. The one-day event provides elementary school students with the five-lesson JA elementary curriculum, which teaches financial literacy to students. The foundation and JA are seeking credit union staff and volunteers to help bring the program to 10 classes of fourth and fifth graders. Volunteers will be assigned a class and will team up with a local JA staffer to teach the lessons, said the foundation …


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