Korman Endowment To Assist Smaller CUs

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The New York Credit Union Foundation (NYCUF) has created the Harold Korman Endowment to assist smaller asset size credit unions. Consolidated League Services, CUC Mortgage and Empire Corporate FCU, have made founding donations totaling $375,000 to the fund, which was created in memory of Harold Korman. The goal for the endowment fund is $1 million.

"The health and survival of small credit unions is important to the credit union system," said William J. Mellin, president/CEO of the New York State Credit Union League, NYCUF president and trustee. "In keeping with our commitment to the mission, philosophy and ideals of the credit union movement, this endowment will make it easier for the foundation to help small credit unions promote and maintain their uniqueness as well as their ability to serve their membership."

During Korman's career, he was an advocate for smaller credit unions, and also helped to cofound Empire Corporate FCU, where he served on the board from 1977 to 1992 and served as chairman from 1977 to 1981.

Korman also served as board director for CUNA Mutual Group and in numerous capacities for CUNA, director and chairman of the New York State Credit Union League board, chairman and director of the CUC Mortgage board, trustee of the New York Credit Union Foundation, and president and member of the Metropolitan District Leadership Council of the League. In addition, he led Brooklyn JENAPO FCU and Independent CU as manager and president, respectively.

To make contributions: NYCUF Korman Endowment Fund, New York Credit Union Foundation, 19 British American Blvd., Latham, New York 12110.

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