A NCUA approved merger between Affinity Federal Credit Union and Rutgers University Student and Alumni Federal Credit Union will make for some useful benefits for Rutgers students.
The $1.9 billion Affinity FCU offers benefits such as free checking and financial counseling as well as access to more than 4,100 branches through partnerships. The complete service offerings of the credit union will now be offered to Rutgers USA members, Rutgers' 50,000 students and 350,000 alumni.
John T. Fenton, president & CEO at Affinity, said that the merger will provide more than just the financial services offered at Affinity.
"Our core philosophy is built on fostering long-term relationships with our members and business partners," said Fenton. "We also believe that our commitment to the financial education of our members and local communities will help to enrich the learning experience and add value to the total Rutgers experience."
Affinity is currently in the process of informing Rutgers USA's members about their new financial opportunities. Operations and accounts transitioning is expected to be complete by late September.