HIGHTSTOWN, N.J. (1/9/12)--Paul Gentile, president/CEO of the New Jersey Credit Union League, was interviewed on local television this month where he touted the benefits of credit unions and promoted aSmarterChoice.org, which helps consumers learn about and locate credit unions.
Well-known New Jersey broadcast journalist Steve Adubato interviewed Gentile on his show, "One-on-One with Steve Adubato" (The Daily Exchange Jan. 6).
During the interview, Gentile addressed the many differences between credit unions and banks, including what makes a credit union a better alternative to a traditional bank. He focused on recently passed state legislation on municipal deposit reform, which will allow more competition in New Jersey, resulting in lower costs for taxpayers.
Gentile also discussed the need to increase the member business lending cap to aid small businesses nationally. The Credit Union National Association (CUNA) and credit unions are urging Congress to increase credit unions' MBL cap to 27.5% of assets from 12.25%. Doing so would open up more opportunity to offer MBLs, inject $13 billion in loans into the economy and create as many as 140,000 new jobs, with no cost to taxpayers, CUNA said.
To see the interview, use the link.