Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Municipal officials back N.J. deposits measure
HIGHTSTOWN, N.J. (1/13/09)--New Jersey state municipal officers and mayors have contacted the New Jersey League of Municipalities to support legislation that would allow credit unions to become municipal depositories, said the New Jersey Credit Union League. The league has met with the League of Municipalities and the New Jersey Association of Counties. If the legislation is approved, credit unions could take deposits for the state’s 21 counties, 566 municipalities and 611 school districts (The Weekly Exchange Jan. 5). On Jan. 7, league President Paul Gentile and Director of Government Affairs Chris Abeel met with the New Jersey Community Affairs and its Division of Local Government Services to brief them on pending legislation that would allow credit unions to be depositories for municipalities and school boards under the state Government Unit Depository Protection Act (GUDPA). The league also is scheduling meetings with the New Jersey School Boards Association. The legislation, which would amend GUDPA, was introduced by State Senate Majority Leader Steve Sweeney (D) and State Reps. Fred Scalera (D) and Doug Fisher (D). “Support from such groups is essential to making the case that while credit unions will benefit from the legislation, it is good public policy and in the best interest of New Jersey taxpayers, who will be the true beneficiaries,” the league said.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
2 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
3 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
3 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
4 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
5 hours ago