BRONX, N.Y.–Joy Cousminer, who helped to found Bethex Credit Union in 1970 and was its CEO until the credit union was placed in conservatorship in 2015, has died.
Ms. Cousminer, well known to many in credit unions and the winner of a 2006 Herb Wegner Award for Individual Achievement, was 90 years old.
Cousminer, a teacher, was working for the New York City Board of Education Adult Education Program and helping single mothers on welfare to earn General Education Diplomas (GEDs) when she noticed many lacked any access to credit or regular savings. Cousminer would join with others to form Bethex FCU to serve low-income consumers in the Bronx.
During her career Cousminer was recognized for a number of innovations, including a partnership with local check-cashing outlets to allow BFCU embers to cash checks for the low fee of $1.50 if they deposited 20% of the amount of the check into the CU using a free terminal inside the check casher.
She later founded the We Care Network for small CUs in New York, according to the Credit Union Association of New York.
Cousminer was also active with the National Federation of Community Development Credit Unions, receiving its Annie Vamper Award in 1996, and was inducted into the Cooperative Hall of Fame in 2013.
As CUToday.info reported here, Bethex FCU struggled financially in its later years, and even turned to bake sales at one point as it sought to raise capital. It was eventually merged into USAlliance FCU in Rye, N.Y.