HIGHTSTOWN, N.J., and HARRISBURG, Pa. (9/22/14)--Credit unions in Pennsylvania and New Jersey recently hosted retirement fairs, providing participants with an opportunity for a hands-on experience in preparing for financial reality in their post-working years.
|Six credit unions participated in a retirement fair last week hosted by P and G Mehoopany Employees FCU, Tunkhannock, with $103 million in assets. (Pennsylvania Credit Union Association Photo)|
Last week in Pennsylvania, P and G Mehoopany Employees FCU, Tunkhannock, with $103 million in assets, hosted a retirement fair with six credit unions participating. The National Credit Union Foundation's REAL Solutions program in cooperation with CUNA Mutual Group have developed the new Retirement Fair to assist credit unions in helping their members better prepare for retirement.
The interactive program is designed to introduce choices to insure retirees of a lifestyle that makes optimum use of their financial resources, the Pennsylvania Credit Union Association reported (Life is a Highway Sept 19).
Seven booths provided information on expenditure choices: housing; food and clothing; transportation; health and fitness; leisure, travel and entertainment; communications; and gifts and donations. The 20 participants assigned percentages of expenditures from their budgets to each life activity.
In addition to P and G Mehoopany Employees FCU, participating credit unions included:
In New Jersey, First Financial FCU, Wall, with $186 million in assets, presented a retirement fair program to 24 teachers from Asbury Park High School--the first retirement fair to be held in the state. (New Jersey Credit Union League Photo)
Booth activities and counseling services were also provided by Trey Van Wert, Jim Van Wert and Shawn Heys of Member Financial Services and Bob Behlke of CUNA Mutual Group.
Following the visits, attendees heard two presentations. Corey Reeder of the law firm McNees, Wallace and Nurick LLC presented various legal and financial obligations that may be put in place by retirees to protect their assets. Then John Kebles, REAL Solutions program manager, provided brief descriptions of revenue options that can be used by retirees towards these lifestyle choices.
In New Jersey, First Financial FCU, Wall, with $186 million in assets, presented a retirement fair program to 24 teachers from Asbury Park High School--the first retirement fair to be held in the state, the New Jersey Credit Union League reported (The Daily Exchange Sept. 19).
First Financial FCU Business Development Manager Matthew Brazinski and Investment and Retirement Center Coordinator Samantha Schertz gave a brief history of the credit union, explaining how it was founded in the halls of Asbury Park High School in 1936. Brazinski and Schertz then gave an orientation to each group before participants visited each lifestyle station to assess and plan for their retirement.