HIGHTSTOWN, N.J. (3/5/15)--In honor of longtime board chair Ann South, the New Jersey Credit Union Foundation (NJCUF) created a new fund to help small credit unions.
NJCUF will earmark $5,000 annually toward the Ann South Small Credit Union Assistance Fund, which will be used to aid smaller-asset credit unions in improving their business, creating operational efficiencies or better servicing their membership.
"As the foundation's board chair, as well as a board member, Ann worked diligently developing the foundation you see today," said Michael Hou, current NJCUF board chair and board member, United Teletech Financial FCU, Red Bank, N.J. "Ann was instrumental in the creation of our current fundraisers, our internal Reality Fairs program, as well as our successful partnership with the New Jersey Coalition for Financial Education and many other initiatives throughout her tenure."
The foundation noted South initiated grant programs for small-asset credit unions such as remote deposit capture and the sunsetting of Microsoft's XP system.
"It is truly an honor to have these perpetual funds named after me," said South, who is also president/CEO of Novartis FCU, East Hanover. South recently stepped down from the board after more than 10 years, during most of which she was chair.