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News Now

CU System
N.J. league briefs Sen. Booker on CU issues
NEWARK, N.J. (1/27/14)--Representatives from the New Jersey Credit Union League (NJCUL) and other industry stakeholders met last Thursday with freshman U.S. Sen. Cory Booker (D-N.J.).

From left, Greg Michlig, president/CEO, New Jersey Credit Union League; Chris Abeel, NJCUL director of government affairs; Tracy Sussmann, president/CEO, Mid-State FCU, Carteret; U.S. Sen. Cory Booker; John Fenton, president/CEO, Affinity FCU, Basking Ridge; Bob Steeves, president/CEO, Essex County Teachers FCU, Bloomfield; and Eddie Daniels, CEO, Newark Board of Education CU.
The group briefed Booker on credit unions' legislative priorities and New Jersey credit unions' financial literacy programs (The Daily Exchange Jan. 24).

Specific topics discussed included efforts to preserve credit unions' tax status, lessening the regulatory burden on credit unions, fair access to the secondary mortgage market in housing finance reform, and how credit unions can play a role in the economic recovery by altering their charters to increase member business lending and members' access to capital.

League Government Affairs Director Chris Abeel said it has been cultivating a relationship with the senator, a former mayor of Newark, for years. Booker has given a speech at an NJCUL chapter meeting, participated in a Garden Savings FCU fundraiser and attended the CO-OP Think Conference in Chicago last year.

"Senator Booker already had an excellent understanding and appreciation of the unique and important role credit unions play, and he seemed very interested in seeing that role expanded," NJCUL President/CEO Greg Michlig said after the meeting.

Booker was picked by New Jersey voters to fill the seat held for 10 years by the recently deceased Frank Lautenberg. In a special election held Oct. 31, Booker won 54% of the vote. 


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