NIU Credit Union holds open house

By Thomas Owens

Two milestones were just celebrated for the NIU Credit Union—its 35th anniversary and hitting the $5 million mark in assets.

The NIUCU celebrated these two achievements by holding an open house Oct. 13.

The NIUCU is overseen by three employees, Manager Beth Smith, and staff employees Christina Frye and Carolyn Ferguson.

“I thought it was a highly successful open house; we received six new members and more than 400 people attended, including NIU President John La Tourette. We also had a drawing of prizes for members and non-members,” Frye said.

The operation is administered by an 11-member Board of Directors. Board members are President Joe Baird, Vice President Jerry Augsburger, Secretary David Hamilton, Treasurer Linda Babcock and Carrie Anderson, Robin Bassing Boyes, June Kubasiak, Wendy Lawson, David Piatak, Vernon Ray and Karla Taylor.

According to Baird, “The credit union is 35 years old. It was originally founded in 1958 as a state-chartered credit union with 17 founding members.”

In 1969, the credit union converted to a federal charter and was renamed the NIU Employees Federal Credit Union.

By 1976, the credit union had grown to more than 1,800 members and $1 million in assets.

Today, the credit union has more than 2,700 members and assets in excess of $5 million.

“The milestones show that we’ve grown and that we’re a strong credit union,” Ray said.

The NIU Credit Union is a financial cooperative. This means that it is owned, operated and controlled by its members. The purpose of the union is to encourage thrift and provide financially sound and responsible savings, loans and assorted other needed services to members.

Any status employee of the university, whether full-time or part-time, is eligible as a member.

For more information on joining the NIU Credit Union, call 753-1911 or stop at Altgeld Hall 100N.