The Boards of Directors of the Pennsylvania Credit Union Foundation (PACUF) and the New Jersey Credit Union Foundation (NJCUF) today announced they have entered into an agreement to create a new foundation – the CrossState Credit Union Foundation.
The CrossState Credit Union Foundation will bring together the strengths of these two successful foundations to enhance our grantmaking and programs to credit unions in both states.
Michael Hou, NJCUF Board Chair and First Board Vice Chairman of United Teletech Financial Federal Credit Union 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. We believe this merger will be a great benefit to the Foundations in both states, broadening the capacity to best serve credit unions and their members.”
“This is an exciting day for credit unions in both Pennsylvania and New Jersey,” said Jeff DeBree, PACUF Board Chair and President/CEO of Penn East Federal Credit Union. “I would like to thank my fellow Pennsylvania Credit Union Foundation and New Jersey Credit Union Foundation board members for their support of this new organization.”
The combination became effective Jan. 1.