Credit Union of New Jersey, based in Ewing, and Nassau Federal Credit Union in Lawrence have announced plans for NFCU to merge into CUNY, pending approval from credit union members and regulators.
Nassau Federal Credit Union with 1,800 members, $10 million in assets and 4 employees is the credit union for and located at the international nonprofit Educational Testing Service (ETS). Credit Union of New Jersey with over 35,000 members, $225 million in assets and 93 employees serves employees of the State of New Jersey and Mercer County, employees of Mercer County Regional Chamber of Commerce member businesses, residents and businesses of Ewing Township, residents of the City of Trenton and Burlington County residing in underserved areas and over 100 employer groups.
“This merger proposal is based solely on the ability to offer better value for all members,” stated Nassau Federal Credit Union Board President Jeri Bogan-Zielinski.
The merger is scheduled to be completed in May 2008. There will be no lay-offs of any NFCU Employees.

