August 15, 2018 | ° F

RFCU?affiliated with U.

Letter to the Editor

The employees and volunteers of the Rutgers Federal Credit Union wish to set the record straight about some statements that appeared recently in our campus publication of record, The Daily Targum.

RFCU is most definitely affiliated with the University — has been since 1954 when eight faculty and staff members founded it. Though we’re a separate and distinct not-for-profit cooperative, we’ve enjoyed a long association with the University, growing in membership over the years and regularly participating in community activities such as Rutgers Day, the Dance Marathon, the Big Chill winter run and many other worthwhile events.

Since our founding by these four University colleagues, our mission has been to offer the University community a lower-cost, friendly alternative to the big banks. Our founders simply wanted to offer their fellow faculty and staff colleagues a better banking choice, just as at other great universities (including those in the Big Ten Conference we’re now part of).

To offer the benefits a credit union provides, like lower-cost loans and credit cards, current federal law requires membership. Recently, RFCU’s federal charter was expanded, allowing us to now offer these same benefits — including low-rate student loan options — to students and alumni.

Put simply: Your credit union’s sole purpose is to provide better banking for the people who attend or work for the University. Without you and me, RFCU just wouldn’t have a reason to exist.

I hope you’ll take a moment to stop by and ask us about the credit union difference.

Gordon Stankavage is the Rutgers Federal Credit Union chair of the Board of Directors. He writes on behalf of RFCU’s members.

By Gordon Stankavage

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