TRENTON, N.J. (1/8/14)--Legislation to expand the New Jersey's Credit Union Advisory Council (CUAC) to seven members and provide for representation of federally chartered credit unions passed the state Assembly by 78-0 vote Monday.
The legislation awaits signature by Gov. Chris Christie.
The bill expands the CUAC from five members. It designates that no fewer than four seats be held by representatives of state-chartered credit unions, and no fewer than two seats can be held by representatives of federally chartered credit unions, said the New Jersey Credit Union League (The Daily Exchange Jan. 7).
The CUAC was established through legislation enacted in 1984 as a vehicle for state chartered credit unions to advise state government on credit-union related matters. Members are nominated by the governor and must be confirmed by the state Senate.