Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
NCUA OKs Rutgers studentalumni CU acquisition by Affinity
ARLINGTON, Va. (7/20/10)--The National Credit Union Administration (NCUA) has confirmed it approved a merger of Rutgers University Student and Alumni FCU (RUSA FCU), based in New Brunswick, N.J., into Affinity FCU of Basking Ridge, N.J. According to the agency's insurance report of activity, the merger was approved June 30 in Region II. The reason stated for the merger was that the nearly $3.5 million Rutgers was struggling and in "poor financial condition." Affinity FCU has nearly $2 billion in assets and nearly 135,000 members. RUSA FCU had 2,385 members. In November 2009, another credit union serving the Rutgers community, Rutgers FCU, said it and RUSA were considering a merger proposal to provide economies of scale. . Rutgers FCU serves faculty, while RUSA serves students and alumni of the Rutgers University system (News Now Nov. 16).


RSS print
News Now LiveWire
#creditunion CEO confidence continues upswing See #NewsNow http://t.co/GBFxLbhCSX
27 minutes ago
Housing starts swell in July #NewsNow #Market http://t.co/EdKIhXEj9l
17 hours ago
Consumer inflation tapers after spring surge #NewsNow #Market http://t.co/bgvQd8fyuF
17 hours ago
Have you read this one today in #NewsNow? What NCUA examiners look for on cybersecurity efforts: NCUA Report http://t.co/4g5wUavUAe
18 hours ago
.@CFPB sets $2.75M fine v. auto finance co. it says "distorted consumer credit records for years": TX-based First Investors Fin. Serv. Group
19 hours ago