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KINECTA FCU
updated 08/31/15 12:55 PM
Kinecta FCU and Nix Neighborhood Lending (Nix) partnered with Los Angeles Fire Department (LAFD) Fire Station #64 and the Los Angeles Police Department (LAPD) Southeast Division to donate nearly 470 backpacks filled with school supplies to students in Watts. Assemblyman Mike A. Gipson, Los Angeles City Councilman Marqueece Harris-Dawson, and “Sweet Alice” Harris were on hand to show their support.

Kinecta and Nix held a month-long collection campaign collecting nearly 600 backpacks filled with school supplies with additional backpacks donated by the Richstone Family Center, Thomas House Family Shelter, and other schools and community organizations.

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From the Editors of CU Weekly

Arnold Ramirez, Research and Information Consultant for the California and Nevada Credit Union Leagues
SHARES: MEMBERS VS. ACCOUNT OWNERS
updated 03/18/13 02:44 PM
R&I Expert Gives the Details
If you ever opened a new member account, you’ve probably had a member ask why they must have a regular share account. You may have said it was a requirement for membership.

As a matter of credit union policy, you may be correct. But when it comes to a regulatory requirement, this isn’t necessarily accurate.

Credit unions have created many ways of setting up accounts and memberships. Some credit unions choose to assign one membership to a single account and house all services provided to that member under the account. Other credit unions allow members to have multiple accounts with multiple services under each account.

Ultimately, the best way to set up memberships and accounts depends on the credit union’s preference, provided they adhere to rules of membership and account ownership.

Click here to read the entire article, Shares: Members vs. Account Owners, in the February/March edition of Credit Union Digest on Page 19.

 
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