Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Ask Governor show to feature CUs message
HIGHTSTOWN, N.J. (2/24/11)--New Jersey credit unions will take their municipal deposit message to the airwaves today during NJ 101.5 FM’s “Ask the Governor” radio show during which Governor Chris Christie answers the questions of audience viewers. As a sponsor of the broadcast, credit unions will deliver the municipal deposit reform message four times during the one-hour show, which begins at 7 p.m. ET. Credit unions receive requests from municipalities, school boards and other county and local public entities to bid on depository relationships. These requests have multiplied in recent years as municipalities try to save taxpayer dollars, said the New Jersey Credit Union League (NJCUL) (The Daily Exchange Feb. 23). While municipal deposits are permitted in nearly one-half of the states, credit unions are specifically precluded from becoming eligible depositories for New Jersey local government entities under the state’s forty-year old Governmental Unit Depository Protection Act. NJCUL maintains that allowing local government entities to include credit unions among potential depositories would promote competition among providers of government banking services and save taxpayer dollars. Selecting a credit union as a depository would increase the likelihood that taxpayer dollars would be invested back to the respective communities through lending, promoting local economic development. “NJCUL is working hard to make sure everyone knows the benefits of municipal deposit reform, and this radio show is the first move in a push to make sure we get the support of New Jersey’s residents,” said Paul Gentile, NJCUL president/CEO.


RSS print
News Now LiveWire
News reports say House side of U.S. Capitol is closed due to "industrial spill," unclear how will effect day's proceedings.
1 hours ago
Reminder: @TheNCUA's Listening Session tomorrow in Chicago. Capacity crowd expected for meeting at 1 p.m. CT. http://t.co/FYYuoHCdVJ
15 hours ago
Mortgage apps up 1.9% in @MBAMortgage's weekly survey http://t.co/QBzKWdnRkH
16 hours ago
Manage your household budget with these 5 @SavvyMoney tips from @MCUA_news's Halley Abbott on @FOX2now http://t.co/qaXIbnNktt
16 hours ago
Wash state's marijuana market open but still short of FIs to serve it via @NWCUA http://t.co/qwxCVEZbPG
17 hours ago