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N.J. League gives CUs 10 dues rebate
HIGHTSTOWN, N.J. (1/24/11)--In recognition of the difficult economic and operating environment facing credit unions, the New Jersey Credit Union League (NJCUL) has enacted a one-time 10% dues rebate for 2011. “With continued National Credit Union Administration (NCUA) assessments and a challenging economy, we want to assist our members in any way we can. We already do that through advocacy and high-quality association services, but this year we are also offering a 10% across the board NJCUL dues rebate," said NJCUL President/CEO Paul Gentile (Daily Exchange Jan.21). The NJCUL will continue to seek ways to assist members throughout 2011 and will also continue to press the NCUA to reconsider its 12% budget increase while using the tools at its disposal to lessen the corporate assessments. “The 20- to 25-basis point estimate for 2011 is just too high, based on the estimated losses and the time period the agency has to work with,” Gentile of the NCUA assessments. League members have the option to forego the dues rebate and pledge their rebate to the league’s advertising cooperative program that fuels its “Banking You Can Trust” statewide credit union awareness program, the league said.
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