Nansemond Credit Union celebrating 55 years during National Credit Union Week

Published 12:00 am Thursday, April 22, 2004

Suffolk News-Herald

National Credit Union Week is being observed by the Nansemond Credit Union at 617 East Washington St.

According to Karen Lynette Hopson Jenkins, CEO at the credit union, one of the great things about the business is that it is 55 years old, still going strong and is one of the oldest community credit unions in Virginia.

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The credit union was founded by Dr. Clarence J. Word along with 11 other co-founders to help persons who couldn’t meet all of the requirements of other financial institutions for loans as well as having a place to save their hard earned money.

Jenkins said that throughout the past years the credit union has grown in membership and assets.

&uot;The Nansemond Credit Union’s field of membership for the past 55 years has been persons who live in Suffolk but now its field of membership has been expanded. If you live work or worship in Suffolk, you are eligible for membership, it’s just that simple,&uot; said Jenkins.

Along with Jenkins, the business employs two Member Services Specialists-Karyn Watson and Gloria Herndon, and a part-time worker, Mary Alice Daughtrey. Before her retirement, Daughtrey was also employed as a full-time MSS.

&uot;One of the highlights of the credit union is The Little Savers Club, which is a program that my staff and I take to the local schools. This club allows students to open their own personal savings accounts that will allow them to deposit their allowance, birthday money or whatever, whether it be a penny or $50. The goal is to teach them the importance of saving for the future&uot;, she said.

Jenkins said that she is aware of bigger financial institutions moving into the city but their mission is different.

&uot;Unlike many others the Nansemond Credit Union is a not for profit credit union. While we need the support of the entire community, our focus is to help those who are often rejected by other financial institutions. &uot;

&uot;We try to have a family closeness with our members and community so we can offer personal attention that other institutions can’t touch,&uot; she said.

The Board of Directors for the Nansemond Credit Union consists of Johnnie E. Mizelle, Esq., chairman; Dr. Mark A. Croston Sr., vice chairman; John Monroe, DTE, secretary; Wendell M. Waller, Esq.; and the Rev. Kevin White.

These people have made great strides in keeping the business as competitive as possible with the other surrounding financial institutions.