On the heels of winning a prestigious industry honor, the $188 million North Jersey Federal Credit Union announced this week it is embarking on a broader community service mission by setting up--for the first time--an in-house foundation.
The North Jersey FCU Foundation will be processing member donations having already collected funds for its first project, a golf outing held last month with $6,000 in contributions directed to college scholarships for women.
"Through our foundation, we believe this kind of vehicle is better suited to serve the community in fundraising as we seek out more opportunities and aid for the less fortunate," explained Lourdes Cortez, CEO of the Totawa CU.
The CU said more than 40 contributors took part and bought sponsorship packages for the inaugural "Above and Beyond Golf Classic Tournament" held Sept. 22 at a Wayne, N.M., golf course.
The proceeds raised will go toward the Executive Women of New Jersey to fund two high school scholarships for deserving seniors at a Paterson high school.
Cortez said the foundation is an outgrowth of the CU's "Operation Share & Care" community service and volunteer program. The foundation, she said, is being founded "to formalize the process for members who donate. The foundation will significantly increase North Jersey Federal's efforts to stay committed to the community."
A week ago, North Jersey FCU was named New Jersey Credit Union of the Year at the annual meeting of the New Jersey Credit Union League in Atlantic City. The CU was honored for its mobile banking products, growth record and community service work. It was declared the winner over more than 209 entrants.