Rutgers University Student Assembly members are taking a stand against the university branch location closing of the former $2 million Rutgers University Student and Alumni Credit Union, the university’s newspaper reported Thursday. RUSACU was recently acquired by the $2.03 billion, Basking Ridge, N.J.-based Affinity FCU.
RUSA members voiced their concerns over RUSAFCU’s closing at a campus meeting Wednesday, The Daily Targum said. RUSACU signed a contract to merge with Affinity FCU in July 2010, leading to the consolidation of RUSAFCU’s board of directors and an upcoming move of the credit union’s operating location from the Rutgers Student Center to an Affinity location, Rutgers University Committee chair Kristen Clarke told The Daily Targum.
Membership at RUSAFCU had been open to anyone affiliated with Rutgers University, including students and alumni. RUSAFCU’s website, www.rutgersbanking.com, now redirects to Affinity FCU’s website.
The university’s larger credit union, the $71 million Rutgers Federal Credit Union, still operates out of New Brunswick, N.J. Its membership is limited to the Rutgers University Foundation, Rutgers Council of AAUP Chapter, as well as employees of Rutgers University, the University of Medicine and Dentistry of New Jersey New Brunswick and RWJ Medical School, according to its website at http://www.rutgersfcu.org.
Clarke emphasized the loss RUSAFCU’s closing brings to the university in The Daily Targum by stating, “(RUSAFCU) is the only one in New Jersey to recognize current Rutgers University students, alumni and other affiliates, especially students with current ages between 18 and 22, to give them a set hold on their financial process.”