University of New Orleans Federal Credit Union

The UNO Federal Credit Union, or UNOFCU, was chartered in 1972 by the National Credit Union Administration (NCUA) to serve the faculty, staff, and students of the University of New Orleans (UNO).[1] Currently located in New Orleans, Louisiana, it has one branch located on the Lakefront main campus of UNO and serves approximately 5,000 members, with assets of over $25 Million USD. UNOFCU is also a member of the East Orleans Chapter of the Louisiana Credit Union League.

UNO Federal Credit Union
TypeCredit union
IndustryFinancial services
Founded1972
HeadquartersNew Orleans, Louisiana, United States
Key people
Christopher Maurer, CEO
Frank Schambach, President of the Board
ProductsSavings; checking; consumer loans; mortgages; credit cards; online banking
Websiteunofcu.org

History

First housed in the Physical Plant Services building of the then Louisiana State University in New Orleans campus, UNOFCU opened as the financial institution to the UNO community. Over the last 35 years, it has moved 3 times: to the campus Administration building, the Math building, and finally to its current home in the Homer L. Hitt Alumni Center in 2003, allowing it to offer drive-up window service alongside its normal lobby service. UNOFCU has also grown to serve not only the students, faculty, and staff, but also contract workers, alumni, and student organizations. Having only one branch, the credit union relies on the CU Service Centers network to help its members who are spread around the country. UNOFCU received a $299,000 NCUA no-interest loan through its Community Development Revolving Loan Fund after sustaining severe damage during Hurricane Katrina.[2]

Membership

Eligibility for membership is instant upon becoming a student, alumni, employee, or contract worker of UNO and also extends to the immediate family members of current members. UNOFCU has a policy of "once a member, always a member", meaning that even when an employee leaves the university, he or she is still eligible to remain a member for as long as he or she chooses.

Current Officials
  • CEO - Christopher Maurer
  • President of the Board - Frank Schambach

UNOFCU's Board of Directors and Credit Committee, respectively made up of seven and five officials, are elected by and from the credit union's membership at the annual meetings held every March. The Board then appoints three supervisory committee officials.

References
  1. University of New Orleans Staff Handbook; error message-file not found 22/05/2014
  2. NCUA Awards 3 No-Interest Loans. Credit Union Journal. 24 April 2006.
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