Georgetown University Alumni & Student Federal Credit Union
Encyclopedia
Georgetown University Alumni and Student Federal Credit Union (GUASFCU) is a credit union
headquartered in Washington, D.C.
, chartered and regulated under the authority of the National Credit Union Administration
(NCUA) of the US federal government. GUASFCU is the oldest and largest entirely student-run credit union in the country, both in asset size and in membership. Despite the presence of a Chevy Chase branch on campus in the fall of 2009, GUASFCU assets rose to $12.4 million. By fall 2010, they rose to over $16 million.
. As with all credit unions, membership in GUASFCU is limited to individuals sharing the common bond defined in its credit union charter
. Membership in GUASFCU is limited to:
Chief Executive Officer: Katie Cohen
Chief Operating Officer and Chairwoman: Kristine Cudahy
Chief Financial Officer: Greg Francfort
Treasurer: Jack Mohr
Chief Lending Officer: Rachael Piltch-Loeb
Chief Marketing Officer: Ariana Klener
Chief Human Resource Officer: Jack Glascott
s, checking accounts, and certificates of deposit. The savings product is named "Share Savings" to reflect the fact that a member's initial savings deposit ($10) literally represents their share of ownership in the credit union.
ATM network, an interbank networking connecting ATMs in all 50 states. As of December 31, 2008, the Allpoint network has over 43,000 ATMs, located both inside the United States and internationally. GUASFCU members can use any of these ATMs free of charge in addition to the two GUASFCU ATMs located on campus.
have come together to create the Reimagine Georgetown Partnership, a student partnership dedicated to empowering individuals to improve the undergraduate experience in innovative ways.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
headquartered in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
, chartered and regulated under the authority of the National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
(NCUA) of the US federal government. GUASFCU is the oldest and largest entirely student-run credit union in the country, both in asset size and in membership. Despite the presence of a Chevy Chase branch on campus in the fall of 2009, GUASFCU assets rose to $12.4 million. By fall 2010, they rose to over $16 million.
History
On February 9, 1983, the Georgetown University Student Federal Credit Union (then GUSFCU) was formally chartered by the National Credit Union Administration. At the time, it was "hailed" as a model for future student credit unions. The GUSFCU's founders received permission from the university administration to open on the second floor of the O'Gara building. In 1994, GUSFCU officially became the Georgetown University Alumni and Student Federal Credit Union (GUASFCU) to emphasize the importance of graduates to its membership base. Through the transition into the 21st century, the GUASFCU continues to make members its main priority, with continued changes to better serve the students and alumni of Georgetown University. Through the introduction of new programs, the credit union seeks to become and remain students' financial institution long after graduation.Membership
GUASFCU's field of membership is agreed with the National Credit Union AdministrationNational Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
. As with all credit unions, membership in GUASFCU is limited to individuals sharing the common bond defined in its credit union charter
Charter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified...
. Membership in GUASFCU is limited to:
- Current Georgetown UniversityGeorgetown UniversityGeorgetown University is a private, Jesuit, research university whose main campus is in the Georgetown neighborhood of Washington, D.C. Founded in 1789, it is the oldest Catholic university in the United States...
students - Georgetown University alumni
- Immediate family members of alumni and students
Board of Directors
2011-2012 TermChief Executive Officer: Katie Cohen
Chief Operating Officer and Chairwoman: Kristine Cudahy
Chief Financial Officer: Greg Francfort
Treasurer: Jack Mohr
Chief Lending Officer: Rachael Piltch-Loeb
Chief Marketing Officer: Ariana Klener
Chief Human Resource Officer: Jack Glascott
Services
GUASFCU offers the typical suite of account services offered by most financial institutions, including savings accountSavings account
Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...
s, checking accounts, and certificates of deposit. The savings product is named "Share Savings" to reflect the fact that a member's initial savings deposit ($10) literally represents their share of ownership in the credit union.
Allpoint
GUASFCU is part of the AllpointAllpoint
Allpoint is an interbank network in the United States connecting ATMs in all 50 states. It advertises itself as being "America's Largest Surcharge-Free ATM Network", with "1 in every 12 ATMs" being part of its network...
ATM network, an interbank networking connecting ATMs in all 50 states. As of December 31, 2008, the Allpoint network has over 43,000 ATMs, located both inside the United States and internationally. GUASFCU members can use any of these ATMs free of charge in addition to the two GUASFCU ATMs located on campus.
Quickpay
QuickPay allows GUASFCU members to link a checking or savings account at another bank to their Credit Union account. Once registered, funds can be transferred from the external bank account into the Credit Union account for free. The on-demand option allows members to transfer any amount of money by submitting a form via email, fax, or in person. The recurring option allows members to transfer a preset amount of money every month - either on the 1st or the 15th. QuickPay allows members to avoid wiring fees that can often exceed $25.Philanthropy
GUASFCU supports a variety of philanthropic events benefiting the Georgetown community, the greater D.C. area, and national charities and foundations.Financial Literacy Series
Every year GUASFCU sponsors a campus-wide financial literacy series aimed at educating students on the importance of managing finances early on. The series consists of four events including topics such as investing, student loans, smart credit decisions and managing money.Relay For Life
GUASFCU is a participant in Georgetown's annual Relay for Life event. The GUASFCU Relay team is hoping to raise over $7,000 in donations this year.Run 4 Rigby
GUASFCU supports Run for Rigby, donating $2000 in 2008. That same year, the foundation raised $30,000 and used the funds for fire safety and scholarships.The John Thompson III Foundation
GUASFCU raised over $1,300 for the JTIII Foundation by sponsoring a raffle. The foundation's mission is to foster recently established non-profits that serve at-risk children and families, primarily focusing on education and healthcare for families.Reimagine Georgetown
GUASFCU, The Corp, and The HoyaThe Hoya
The Hoya, the oldest and largest student newspaper of Georgetown University in Washington, DC, was founded in 1920. The Hoya prints an edition every Tuesday and Friday during the academic year and has a circulation of 6,500...
have come together to create the Reimagine Georgetown Partnership, a student partnership dedicated to empowering individuals to improve the undergraduate experience in innovative ways.