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WASHINGTON-Queen of Peace DC Federal Credit Union, with approximately $308,000 in assets and 589 members, recently merged with a larger institution in search of services and economies of scale. HEW Federal Credit Union officially took over Queen of Peace Jan 1. Founded in 1962, Queen of Peace has served the congregation of Lady Queen of Peace Catholic Church in southeast Washington, D.C. through savings accounts and loans. Following the merger, the smaller credit union’s members will have access to many new services including IRAs, share certificates, online banking, additional loan products, and Courtesy Pay. The new HEW Federal Credit Union branch will now be able to take advantage of newer technology and computer systems as well as marketing, accounting and lending support. According to Harry Rainey, branch manager and long-time credit union volunteer, “We look forward to the merger with HEWFCU. It will bring many upgrades to our products, services and spur growth. The support we have already received from HEWFCU has been outstanding, and I can see that their objectives for our extended parish community are consistent with ours.” HEW Federal Credit Union, headquartered in Alexandria, Va. with $121 million in assets and nearly 20,000 members, was approved in late 2003 to serve the underserved area of Washington, D.C. The credit union is working to serve the numerous underserved communities within the district, and the merger with Queen of Peace is part of that plan. HEW Federal Credit Union was chartered in 1936.

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