Posts From November, 2016

Jersey Shore FCU: A Tale of Two Credit Unions and One Dedicated Founder  

November 10, 2016 Categories: legacy series

Although they offer many of the same services, credit unions operate in a fundamentally different way than banks, one founded on the philosophy of “people helping people”. Credit unions were typically founded by friends, like neighbors, workers, and people who worship together. Such is the case for Jersey Shore Federal Credit Union, which was founded by John DiNofrio, who now serves as the credit union’s chairman.

The tale of how Jersey Shore FCU was founded has nothing to do with the famous (or infamous) TV series, and certainly involved far less drama. It actually begins with the founding of another credit union: the FAA Pomona Federal Credit Union. In 1963, James John Benson, an assistant chief air traffic controller at the Federal Aviation Administration William J. Hughes Technical Center at the Atlantic City Airport, saw a need amongst the workers for financial assistance that was not being met by any other local financial institution. Focused on the Technical Center’s federal employees, Benson started the financial cooperative with just $25 for the charter and $40 for supplies.

Around that same time, John DiNofrio, a young employee of the FAA William J. Hughes Technical Center and a board member of FAA Pomona FCU, fell in love with the “people helping people” philosophy of the credit union. He wanted to bring the cooperative benefits of credit union membership more broadly to the public, to help more than just federal employees meet their financial goals.

So in 1979 John, his wife Marianne, and six of their closest friends joined together to found Linwood Community Federal Credit Union to serve their hometown of Linwood, N.J. DiNofrio had members contribute just $2 to join, and set the minimum deposit amount at $50. The first loan the credit union gave out was just $300 to a Linwood City employee.

The credit union began operations in the Mayor’s office in City Hall —he was a friend of the DiNofrio’s—just one night a week. As the credit union grew, and began to operate a few more nights a week, the Mayor moved the credit union to the office of taxation to give them more room. All the while John and Marianne volunteered their time to the credit union, never getting paid for their service, until they hired an assistant. They began paying the assistant and Marianne a modest stipend of $1.50 an hour, preferring to provide maximum benefits to their members.

The fate of the FAA Pomona Federal Credit Union and Linwood Community FCU converged when the two merged in 1994 and the organization continued to grow to serve more and more members in its local community. In 2005, it was officially named Jersey Shore Federal Credit Union to better reflect the more than 200 area businesses and organizations it had grown to serve in the Jersey Shore area. It also modified its charter, allowing the credit union to provide complete financial services to anyone who lives, works, worships, volunteers or attends school in Atlantic and Cape May counties. The credit union now touches the lives of 12,000 members with its “people helping people” philosophy.

“John has successfully piloted the credit union in his role as Chairman,” said Jersey Shore FCU President/CEO Jim Burns. “He helped foster membership growth, expand its branch footprint and provided valuable guidance to both the Board and the executive management team. John promotes the people helping people philosophy in not only his dealings with the credit union but the way he carries himself in everyday life.”This October, the man that had a hand in leading both credit unions that became Jersey Shore FCU, John DiNofrio, was honored with a Lifetime Achievement Award from the New Jersey Credit Union League at its Annual Meeting and Convention for his life-long dedication to the credit union movement here in New Jersey.

DiNofrio is a true example of how the cooperative spirit is ingrained in credit union leaders from the very beginning. When asked about his continued commitment to the cooperative credit union movement, DiNofrio says it’s not just a philosophy. He says, “People helping people is a way of life for me.”

At a credit union, you’re much more than just a customer. For more information on Jersey Shore Federal Credit Union, including how to join, visit or find another credit union near you at

Credit Unions Around the World Celebrate ‘The Authentic Difference’ on International Credit Union Day 

By Daniel Jacinto

Celebrated every third Thursday of October since 1948, International Credit Union Day (ICU Day) is a day dedicated to recognizing the credit union movement throughout history, honor those who dedicate their lives to the movement, recognize the hard work of industry employees, and to show CU members appreciation.

This year, ICU Day was celebrated on October 20th with the theme of ‘The Authentic Difference.” It was dedicated to communicating the unique qualities that make credit unions special. Credit unions celebrate this day by spreading credit union awareness in the form of sharing goodies, giveaways, and specials with their membership. Read on to see how credit unions around the world celebrated International Credit Union Day.

British Colombia, Canada

Canada’s largest credit union by membership, Coast Capital Savings, celebrated International Credit Union Day by reflecting on its commitment to the principles and values that continue to drive its success. "All that we are today and all that we will become in the future is inspired by our roots and our continued commitment to helping our members achieve financial well-being and supporting the enrichment of our local communities," said Coast Capital Savings President and CEO Don Coulter.

New Jersey, United States

Bay Atlantic FCU had free giveaways at their branches that were given to members that stopped by in celebration of “The Authentic Difference”.

Credit Union of New Jersey (CUNJ) celebrated ICU Day with goodies for both their staff and their members. Staff members were provided with international snacks and were able to wear jeans. CUNJ members had several goodies, such as snacks and giveaways, at all branches. At the Ewing branch, an NJ 101.5 radio station van was on-site playing music and giving away prizes from 12 p.m. to 2 p.m.

Deepwater Industries FCU served delicious snacks to their members that included coffee, doughnuts, and cookies in the morning and hot dogs, chips, and drinks in the afternoon.

First Financial FCU (FFFCU) held a social media contest on their Facebook and Instagram pages asking members to comment with why they love being an FFFCU member. A winner was pulled out of a drawing for a $20 Visa gift card for that lucky member.

Garden Savings FCU set up tables at all four of its branches to celebrate ICU Day and handed out pens, key chains, and snacks. Each branch offered members the opportunity to win a $50 Visa gift card by verifying or updating their email address.

Jersey Shore FCU held an open house from October 17th to October 22nd in celebration of ICU Week. Refreshments, giveaways, and loan and credit card specials were offered to members. Members were also given a chance to win $2,500 with a Refer-A-Member promotion.

Members 1st of NJ FCU hosted an open house throughout October in celebration of International Credit Union Day encouraging anyone in the community to visit the credit union and receive a gift. On ICU Day, Members 1st of NJ FCU provided refreshments, handed out giveaways, and held a drawing for a chance to win an Amazon Echo. For children under 10 years old, a coloring contest was held.

Newark Board of Education Employees FCU set up tables in their branch’s lobby with materials to hand out, along with candies and other goodies.

Rutgers FCU shared refreshments at their Busch, Camden, College Avenue, and Newark branches in celebration of International Credit Union Day.

New Zealand

Co-op Money NZ, the trading name for the New Zealand Association of Credit Unions, celebrated ICU Day this year by working with Pacific Island banks to strengthen their identity theft protection for members banking with them through Co-op Money NZ’s AccessDebit Scheme. Co-op Money NZ is a co-operative representing member credit unions and building societies in New Zealand.

For pictures of New Jersey credit union celebrations please click here.

How to Create a Holiday Budget and Avoid Post-Holiday Stress 

By Daniel Jacinto

The kids are back to school, temperatures are getting chilly, and store shelves are filled with pumpkin-spiced everything marked down on clearance…these are all symptoms of Autumn falling upon us. Before you know it, the holiday shopping season will be here—and immediately after—the post-holiday season that’ll leave you feeling broke.

Fear not holiday shoppers, you can remedy that holiday hangover and keep from feeling like you only have lumps of coal. Follow these steps to keep your wallet in check after the holiday shopping season.

Create a Gift List

Decide whom you’ll be buying gifts for this season, ask them for gift ideas, and come up with a number of how much you can spend. Create a list and stick to it.

Start Saving ASAP

Once you’ve created a gift list and a budget, open a savings account at a credit union and start depositing small amounts of money. This will keep your spending on track.

Many credit unions require a minimum balance on a savings account of at least $5, which is doable to keep the account active for next year’s holiday shopping. To find a credit union near you to open up your holiday savings account check out our credit union search engine here.

If you need to save more try selling unwanted items online on sites like eBay or on your mobile device on the Let Go app.

Shop Early and Before Black Friday

The best time to shop is right now before the Black Friday mess. The deals offered may run a week prior to Black Friday or Cyber Monday deals. Having worked at a retailer before, I’ve seen pre-Black Friday sales that were the same as the Black Friday sales.

The deals you typically find may not actually even be the best ones, at least compared to sales offered throughout the year.  They may even be the same ones from recent years. A study surveying Black Friday deals in 2013 comparison to 2014 at 27 stores found that 93% of the ads contained at least one repeated deal.

O.K., smart holiday shopper. Now that you’ve got the remedy to your post-holiday stress you can start planning that tropical vacation you’ve been dreaming about…or building up your savings for a rainy (or snowy) day.

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