NYCUF Establishes Harold Korman Endowment to Support Initiatives to Help Small Credit Unions

LATHAM, N.Y. - The New York Credit Union Foundation has formed the Harold Korman Endowment in memory of the co-founder of Empire Corporate FCU. The endowment will support NYCUF initiatives specifically designed to assist small credit unions. Consolidated League Services, CUC Mortgage and Empire Corporate FCU have made founding donations totaling $375,000 to the fund. The goal for the endowment fund is $1 million. Korman died last year. He was an advocate for smaller credit unions. In addition to co-founding Empire Corporate and serving on Empire's board from 1977-1992 including serving as its chairman from 1977-1981, Korman served as a director for CUNA Mutual Group and in various capacities for CUNA, director and chairman of the New York State Credit Union League, chairman and director of the CUC Mortgage board, trustee of the New York Credit Union Foundation, and president and member of the NYSCUL's Metropolitan District Leadership Council. He also led Brooklyn JENAPO FCU as manager and Independent CU as president. NYSCUL President/CEO William Mellin, president and trustee of the NYCUF, said the endowment will make it easier for NYCUF to help small credit unions promote and maintain their uniqueness as well as their ability to serve their membership. John Gibardi, a NYCUF trustee, NYCUL director and CEO of Entertainment Industries FCU, initiated the Korman Endowment. Together with other NYCUF trustees and credit unions that wanted to recognize Korman's contributions to the credit union movement, Gibardi has agreed to chair the Korman Task Force. NYCUF Executive Director Diane LaVigna Wixted said the endowment will complement small credit union initiatives already undertaken by NYCUF, like the professional development grants, technology grants, and the St. John's and Wilfred Kerr workshops.