OCTFU: First school credit union launched.
The numbers of credit unions are on the rise and even schools are establishing them. The Schools First Federal Credit Union, OCTFU (Orange County Teachers Federal Credit Union Orange County Teachers Federal Credit Union is federally-chartered credit union headquartered in Santa Ana, California that serves the educational community in Southern California. ), and KAPFCU are among the growth of credit unions in the nation currently.
Schools First Credit Union and OCTFU covered on TV today. Another similar organization is Kappa Alpha Psi Kappa Alpha Psi (KAΨ) is the second-oldest collegiate Greek-letter fraternity with a predominantly African American membership and the first black intercollegiate fraternity incorporated as a national body. Federal Credit Union (KAPFCU) was also in the news today.
In a new press release issued today, KAPFCU is making a difference in the "Lives of Children and Youth Credit Union Membership Ages 18 to 24″:
Kappa Alpha Psi Federal Credit Union (KAPFCU), the country's first "virtual credit union", was recently awarded a $500 Making a Difference grant from the Texas Credit Union Foundation (TCUF) to provide financial literacy Financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances. Raising levels of financial literacy is now a focus of government programmes in countries including Australia, Japan, the United States and the UK. and credit counseling Credit counseling (known in the United Kingdom as debt counselling) is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. to youth in Plano, Texas.
Movement in the credit union is stagnating with its aging members; according to recent NCUA NCUA National Credit Union Administration (US government)
NCUA Nbcs Control Unit Atm statistics the average age of credit union members is currently 55+.
KAPFCU contrasts sharply to this with the age of its membership between 18 to 24.