New Jersey, Pa. credit union foundations to merge

By Ken McCarthy December 29, 2020, 3:00 p.m. EST 1 Min Read

The trade group representing credit unions in Pennsylvania and New Jersey will soon have a new charitable arm.

Last year, the Pennsylvania Credit Union Association and the New Jersey Credit Union League merged to form the CrossState Credit Union Association.

Now, the foundations of the two groups are combining to create a new foundation that will be called the CrossState Credit Union Foundation, the groups said in a press release Tuesday.

The combination should enhance grantmaking and programs in both states, the groups said.

"We will be working diligently to ensure that both New Jersey and Pennsylvania credit unions continue to benefit from our financial reality fairs, financial literacy, professional development programs and other financial education resources and grants," Michael Hou, chairman of the New Jersey Credit Union Foundation, said in the press release.

The combination will take effect Jan. 1.

Reporter, Credit Union Journal

For reprint and licensing requests for this article, click here.

TRENDING

Consumer banking

20 banks and thrifts with the most assets

The top five banks and thrifts have combined total assets of nearly $13 trillion.

Just now
Regulation and compliance

'Through the looking glass': Jamie Dimon sounds off on regulatory burden

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

By Catherine Leffert

2h ago
Litigation

If Supreme Court sides with CFPB, 'flurry' of litigation moves forward

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

By Kate Berry

8h ago

MORE FROM AMERICAN BANKER

Consumer banking

20 banks and thrifts with the most assets

The top five banks and thrifts have combined total assets of nearly $13 trillion.

Just now
Regulation and compliance

'Through the looking glass': Jamie Dimon sounds off on regulatory burden

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

By Catherine Leffert

2h ago
Litigation

If Supreme Court sides with CFPB, 'flurry' of litigation moves forward

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

By Kate Berry

8h ago
Politics

Democrats push back against Corporate Transparency Act ruling

Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.

By Claire Williams

9h ago
Commercial lending

'Credit darling' Webster Financial reports uptick in defaulted loans

The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.

By Allissa Kline

11h ago
Earnings

Zions, Comerica foresee turnaround on loan growth in late 2024

The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.

By Catherine Leffert

April 23