More Evidence of Cozy Relationship between MCPS and #RockTerrace Credit Union

From Board of Education Fiscal Management Committee minutes, September 13, 2010

Montgomery County Teachers Federal Credit Union Partnership

A meeting of the Montgomery County Board of Education Fiscal Management Committee was
held at the Carver Educational Services Center in room 120 on Monday, September 13, 2010. In
attendance were:

Members: Mr. Christopher Barclay, Chair
Mr. Philip Kauffman, Member
Mr. Michael Durso, Member

Staff: Mr. Larry A. Bowers, Chief Operating Officer
Ms. Susanne DeGraba, Chief Financial Officer
Mr. Roger Pisha, Supervisor, Internal Audit Unit
Mr. Richard Johnstone, Director I, Benefits Strategy and Vendor Relations
Dr. Marshall Spatz, Director, Management, Budget and Planning
Mr. Robert Doody, Controller, Division of the Controller
Ms. Laura Steinberg, Staff Assistant, Board of Education
Mr. Stanislaw Damas, Director, Department of Association Relations

Guests: Mr. Tom Hipp, MCT Federal Credit Union
Ms. Kristine Mathey, MCT Federal Credit Union

Two representatives from the Montgomery County Teachers Federal Credit Union (MCTFCU)
briefed the committee members on their efforts to build on their partnerships with MCPS staff.
In response to the fiscal climate, the Credit Union has identified low-cost opportunities for
specialized products to serve MCPS staff. Other examples include establishing of an advice
hotline, a 0% loan for 90 days, in lieu of tapping retirement funds. Committee members were
interested in MCTFCU partnering with MCPS to design financial literacy courses, credit card
management, and financial planning for students, as well as staff.