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Liquidation prompts resignation on NJCUL board
HIGHTSTOWN, N.J. (7/11/11)--Calvin Jackson has resigned from the New Jersey Credit Union League (NJCUL) board following the liquidation of $1 million asset St. James A.M.E FCU, Newark, where he served as a director. NCUA liquidated St. James A.M.E FCU on June 24. The credit union’s members were assumed by $194 million asset North Jersey FCU, Totowa, N.J. Jackson resigned pursuant to league bylaws requiring a director to be with a credit union in good standing (The Daily Exchange July 8). He served on the board since 2008. His three-year term would have expired Dec. 31, 2012. The resignation means that two seats will be open in the NJCUL Tier A--for candidates from credit unions under $33.875 million in assets--during the current next election cycle. All league member credit unions will receive an amended call for nominations reflecting the Tier A vacancy.


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