Interview with Art Altman, Chairman of the FedChoice FCU Board:

Art Altman (third from right) celebrates a new milestone with the FedChoice FCU Board.
© FCF 2024

Leadership Corner

Interview with Art Altman, Chairman of the FedChoice FCU Board: “I am especially proud of the work we do with our charitable foundation.”

After graduating from the University of Bridgeport with a degree in accounting in 1959, I completed a reserve tour of duty with the U.S. Coast Guard and entered the work force with a local CPA accounting firm.  Ina and I married in 1961 and in July of 1961, I began my career with the IRS as a revenue agent.  This entailed my examination of individual and corporate tax returns to assure that the taxpayers had properly met their federal income tax obligation. Along the way we had three children, LeeAnn, Ellen and Jeff.

In 1965, I transferred to the IRS National Office in Washington, DC, when I accepted a position in the Tax Forms and Publications Division as a Tax Law Specialist.  My initial purpose was to learn as much as I could about taxes and eventually return to the private sector.  However, I found that I enjoyed working in Washington for the IRS in developing materials that helped the public meet their tax obligations and, fortunately for me, I had a successful career, eventually becoming the Director of the Forms and Publications Division, the position I retired from after 33 years at IRS.

When I got to Washington, I had zero knowledge about credit unions, but I quickly became a member of what was then known as the IRS Federal Credit Union.  I became a volunteer, serving first a couple of terms as member of the credit committee, then was elected to the Board of Directors.  I have served on the Board for over 50 years, becoming Board Chair in 2021.  During this time of service, I have come to believe that our credit union, which has changed its name to FedChoice Federal Credit Union, provides a better financial service to its members than the commercial banking organizations available to the public.  Our rates in both savings and lending are very competitive and the personal service we provide is far superior to what our competitors present.

I am especially proud of the work we do with our charitable foundation.  By focusing our efforts on public school children, we are giving these students a very valuable lesson in becoming financially aware. It is so important for students, as they grow older and enter the workforce and begin to face the financial challenges that we all must face, be knowledgeable in budgeting and managing their money.  Too many young people become overwhelmed by the simple fact that they are unable to match their income with their cost of living and take on too much debt.

If along the way we make some of our students aware of our industry and they want to come to work either for us or some other financial institution, that too is a win for us.

Ina and I are pleased that we are able to monetarily support the efforts of our charitable foundation.  After seeing the positive results that are being realized by the foundation’s work with children, it was an easy choice to add the FedChoice Charitable Foundation to our list of charitable giving.

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