Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
NEW Law allowing N.J. CUs to accept public deposits signed
TRENTON, N.J. (FILED 10:35 a.m. ET 8/22/11)--New Jersey Governor Chris Christie has signed legislation that enables credit unions in the state to serve as eligible public depositories and allow public entities to seek out the best possible return for taxpayer dollars. Gov. Christie signed the law Friday. It will enable counties, school boards, municipalities and other local government entities to use credit unions as depositories. Prime sponsors of S-1890/A-1597 were Senate President Stephen Sweeney, Senate Republican Conference Leader Robert Singer, and Assembly Speaker Sheila Oliver and AssemblyDeputy Speakers Upendra Chivukula and John Wisniewski. "This market has historically been dominated by a small group of banks," said New Jersey Credit Union League President/CEO Paul Gentile. "Credit unions will bring competition to public deposits that will likely drive better returns and ultimately help taxpayers. Even if credit unions aren't ultimately chosen by the public entity, their presence in the market raises the competitive bar." More detail will be in Tuesday's News Now.


RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago