Look Back on 2016 with NJCUL’s Annual Report

Report Includes 2016 League Highlights and Financials

HIGHTSTOWN, N.J. – NJCUL’s 2016 Annual Report is available for download from the League’s Web site by visiting the Annual Reports page of the site. In the report you’ll find a recap of the happenings at the League this past year as well as statistics on the League’s efforts and impact. The report also includes the League's audited financials.

Lt. Governor Kim Guadagno Slated to Address NJ Credit Unions at NJCUL Convention

HIGHTSTOWN, N.J. – Lt. Governor Kim Guadagno, the Republican candidate for governor, is slated to speak to New Jersey credit unions at the League's 83rd Annual Meeting and Convention, taking place October 22-24 at the Golden Nugget in Atlantic City. Fresh off of her recent visit to the League to hear about credit union issues, the Lt. Governor will address the audience during the Monday morning Opening Session.

NJCUL Represents N.J. CUs at NCUA Region II Meeting

HARRISBURG, PA – The New Jersey Credit Union League (NJCUL) attended the National Credit Union Administration (NCUA) Region II meeting, hosted by the Pennsylvania Credit Union Association (PCUA), at PCUA's headquarters on Friday, September 22. NCUA Regional Director Jane Walters, Associate Regional Director Wendy Angus, and Associate Regional Director Michael Ryan joined NJCUL President/CEO David Frankil in a dialogue on key issues facing the credit union movement.

New Jersey Credit Union League Deploys Virtual StrongBox in its Shared Compliance Initiative

Platform’s Security and RegTech Capabilities Transform Audit and Compliance Processes

CHARLOTTE, N.C. & HIGHTSTOWN, N.J. – Virtual StrongBox, Inc. and the New Jersey Credit Union League (NJCUL) have teamed up to improve compliance processes and cut costs for League-affiliated credit unions and auditors. NJCUL will use Virtual StrongBox’s secure customer engagement platform with the League’s Shared Compliance Program, HelpLine, and Audit Services clients. The secure platform will ensure that sensitive information remains safe while engaging in the exchange of private and financial information with a compliance specialist.

NJCUL President/CEO David Frankil Expresses Concern with NCUA’s Proposed TCCUSF Refund Plan in Comment Letter

HIGHTSTOWN, N.J. – In a comment letter sent to the agency Tuesday, NJCUL President/CEO David Frankil expressed concern with portions of the NCUA’s proposed plan to close the Temporary Corporate Credit Union Stabilization Fund (TCCUSF). The most significant issue is the proposed increase in the equity ratio of the National Credit Union Share Insurance Fund (NCUSIF) Normal Operating Level (NOL) from 1.30 percent of insured shares to 1.39 percent of insured shares, with planned Equity Distributions. Though the League agrees that the NCUA has the authority to close the TCCUSF and supports this action, there is concern over NCUA’s plan to markedly increase the NOL, which will divert millions of dollars that rightfully should be returned to credit unions and their members.

League Launching ‘Weekly Advocacy Roundup’

HIGHTSTOWN, N.J. – This week, NJCUL is launching a “Weekly Advocacy Roundup” communication that highlights the week’s top issues on two fronts: the legislative and political front and the compliance and regulatory front. The communication includes a message from NJCUL President/CEO David Frankil that “frames” the top issues for our credit unions and spotlights the advocacy efforts of the League, CUNA, and credit unions.

$89,000 State Training Grant Approved to Provide NJCUL Members No-Cost Training in Partnership with Rutgers University

HIGHTSTOWN, N.J. –The New Jersey Credit Union League (NJCUL) today announced a new benefit for member credit unions—professional development training through a partnership with Rutgers University, underwritten by an $89,000 educational grant from the State of New Jersey. It will provide grant-funded training for more than 250 credit union employees.

NJCUL CEO Frankil in Daily Record Op-Ed: Banks’ Opposition to NCUA’s FOM Rules is ‘Meritless’

HIGHTSTOWN, N.J. – “As a society, we should be encouraging credit unions to step in to help people, but the banking lobby is suing to try to prevent these rules from going into effect, denying millions of Americans effective access to credit unions,” writes NJCUL President/CEO David Frankil regarding banks suing the NCUA over its new field of membership rules in an op-ed piece published by the Daily Record.

New Jersey Credit Unions Meet Goal of Hosting 20 New CMN Fundraisers for CU4Kids’ 20th Anniversary

HIGHTSTOWN, N.J. – New Jersey credit unions surpassed their goal of hosting 20 brand-new fundraisers in 2016 benefiting Children’s Miracle Network Hospitals (CMNH) to celebrate Credit Unions for Kids’ (CU4Kids) 20th anniversary of supporting CMNH!

In the spring, CU4Kids challenged New Jersey credit unions to host 20 new events/campaigns to commemorate this milestone. CU4Kids and the New Jersey Credit Union League developed CU4Kids Day, celebrated on August 11, 2016, and encouraged credit unions throughout the state to hold fundraisers on that date and/or before the end of the year. The League also worked in a competitive edge with a “Chapter Challenge” involving the chapter system, challenging each of the four chapters to come together for the cause.

The amount of funds raised is yet to be determined as credit unions have until December 31, 2016 to submit their donations, but the New Jersey Credit Union League is proud to announce that in addition to its own CU4Kids Day fundraiser—a new campaign that included CMNH balloon and candy sales—20 additional fundraisers were held at credit unions across the state. 

NJCUL to Offer New Member Benefit in 2017 Free Customized Performance Reports

HIGHTSTOWN, N.J. – September 29, 2016 – The New Jersey Credit Union League will offer customized performance reports to credit unions as a free benefit of membership in 2017, part of a series of new initiatives focused on meeting member needs with strategic and operational solutions. Drawn from NCUA Call Report data, the quarterly reports will help credit unions compare current results against past results, planning or regulatory goals, and peer groups.

Every credit union attending the NJCUL Annual Convention in Atlantic City (Oct 16-18, 2016) will receive a copy of their personalized report with current YTD 2016 data.  

“Our goal as a state league is to provide valuable and relevant solutions to our members that help them grow and be more productive,” said David Frankil, NJCUL president/CEO. “These customized reports meet both criteria, providing the information a credit union needs to assess their performance against historical benchmarks and peer groups.”

New Jersey League and Pennsylvania, MD|DC Associations and CUNA Mutual Group to Collaborate on CU Reality Check Conference

HIGHTSTOWN, N.J. – September 27, 2016 – Starting in 2017, the New Jersey Credit Union League, Pennsylvania Credit Union Association, and the MD|DC Credit Union Association will work together to manage and host the popular CU Reality Check Conference, scheduled for March 20-22, 2017 at Harrah’s Resort in in Atlantic City, NJ.  

CUNA Mutual Group has also committed to this collaboration, agreeing to be the exclusive Keynote sponsor, enabling the conference to provide a top-tier speaker for attendees.

CU Reality Check is focused on the most pressing issues facing credit unions today, with valuable and relevant content that enhances growth and productivity.  More information on the conference is available at www.curealitycheck.com

Under the agreement, primary management of the event will rotate among the Leagues each year, with a host location in their respective states. In 2016, the conference drew nearly 170 attendees.