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New Jersey league CEO explains CU difference on TV
HIGHTSTOWN, N. J. (7/7/09)--Paul Gentile, president/CEO of the New Jersey Credit Union League, was interviewed for “It’s Your Money,” a personal finance show that airs on a statewide New Jersey news channel. Gentile discussed the benefits of credit unions, how it’s never been easier to join a credit union, and the importance of the league’s statewide advertising initiative--“New Jersey’s Credit Unions, Banking You Can Trust.” He also talked about a bill the league has been advocating in Trenton that would add credit unions to institutions eligible for public deposits. Credit unions are not global and national financial firms--rather, they are local institutions, Gentile said. He also noted the nonprofit status of credit unions, their volunteer boards of directors, and the fact that they do not have shareholders to please. Focusing on credit unions’ cooperative nature, Gentile also spoke about the benefits of shared branching networks, and illustrated the conveniences of belonging to a credit union. “Being interviewed for ‘It’s Your Money’ is just one way we are pushing the credit union message into the state,” Gentile said. “With our potential membership at more than nine million people here in New Jersey, the more we can do to educate the population, the greater the increase in credit union membership will be. To be on a statewide news show and advocating credit unions is just one more way we’re getting the word out.” The league’s multimedia advertising “Banking You Can Trust” campaign uses print, radio and television outlets to explain what credit unions are and how they can help consumers. “We play off of the word ‘trust’ because trust is so important today, given the events in the financial services industry,” Gentile said. “We also use ‘banking’ to instantly explain what we do. Credit unions offer low-cost, high-quality banking services. We have to convey those basics to consumers.”
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