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News Now

CU System
NJCUL CEO outlines agenda
HIGHTSTOWN, N.J. (9/25/08)--The 74th annual New Jersey Credit Union League (NJCUL) conference was also league President/CEO Paul Gentile’s first. Gentile discussed the league’s agenda for the upcoming year. The league is focused on two legislative areas: opening up municipal deposits for credit unions and enhancing the state charter, he told 785 attendees. It also opened a satellite office in Trenton and hired a contract lobbyist to improve governmental relations. Seven credit unions joined the league this year--including some that had not been active with the league for 15 years. “Getting more credit unions involved will always be a priority for me because it makes all of us stronger,” Gentile said. The league also branded itself in 2007 through a partnership with Rutgers University to advertise during sporting events. NJCUL has sponsored major events in the state, is running radio spots weekly on one of the state’s largest radio stations, and is using online media, Gentile added. Credit unions always will have political, regulatory and business challenges, but the credit union movement works best “when we work together,” Gentile said. He noted that the corporate credit union network needs cooperative support right now. “Cooperates have not been immune to the troubles on Wall Street,” he said. “While they can only invest in highly rated securities, all institutions have been affected. But the advantage corporates have is credit unions. “If credit unions stand tall now and support corporates by keeping their money in the corporate system, corporates will be just fine and this will go down as a great example of how cooperation can help the entire system,” Gentile added.


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