HIGHSTOWN, N.J. (12/26/12)--The Board of Directors at the New Jersey Credit Union League approved a 10% league dues rebate for its member credit unions Thursday night at the regular monthly board meeting (The Daily Exchange Dec. 21).
Credit unions in the state have been hit hard during the economic recovery by the aftermath of the Oct. 29 superstorm, Hurricane Sandy.
"New Jersey credit unions are certainly recovering, but many are facing financial challenges in this difficult economic environment," said league Chairman Lou Vetere. "As a league, we are strong in many ways, including financially, and we want to assist our members any way we can. This was our small part in doing that.
The rebate applies to league dues only. Members have three options: waiving the rebate and paying full dues as normal; taking the rebate; or applying the dues rebate to either the league's Banking You Can Trust ad co-op, the New Jersey Credit Union Foundation's Reality Fairs program, or the New Jersey Coalition for Financial Education partnership.
The league said it will contact credit unions that have already paid their dues to determine which option they will choose.