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News Now

CU System
N.J. league postpones election until after bylaw vote
HIGHTSTOWN, N.J. (8/11/08)--The New Jersey Credit Union league has suspended new election rules until after its member credit unions vote on a bylaw amendment. The league board of directors created a governance task force last year to examine the league’s existing governance model and recommend changes to improve it. The result is a bylaw amendment which will be voted on in Atlantic City in September (The Weekly Exchange Aug. 8). Because the amendment would create historic potential changes in the league’s governance model, the board decided to suspend election rules. The bylaw amendment needs two-thirds approval of delegates present at the annual meeting to pass. The nomination process should begin around Oct. 1, the league said. If the amendment is approved, approved, the new election rules will be immediately implemented for the 2009 election cycle, with the newly elected board seated in January.


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