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Credit union launches financial assistance policy

The MIT Federal Credit Union has established a financial assistance and wellness policy to serve members affected by layoff, work stoppage, death or illness of a family member, divorce, family medical leave, or those with spouses called to active military duty. For more information, call chief lending officer Nancy Fales at 253-0029.

The credit union's board also proposed an amendment to its charter to allow new categories of membership. These include retirees from MIT, Draper Lab, the Whitehead Institute and the credit union itself, as well as spouses of deceased members. The MITFCU is awaiting approval from the National Credit Union Administration. In addition, the board announced a $200,000 bonus dividend for members for the third consecutive year. For details, see (click on "membership pays").

The credit union will relocate to 700 Technology Square in late spring from its current offices in Room E19-437 and in Building E39 (290 Main St.).

A version of this article appeared in MIT Tech Talk on January 14, 2004.

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