New Jersey Credit Union League members take their message to NCUA and Capitol Hill

HIGHTSTOWN, N.J. — New Jersey Credit Union League (NJCUL) President/CEO David Frankil led a delegation of credit union officials from New Jersey to Alexandria, Virginia and Washington D.C. yesterday.


Pictured Left to Right: NJCUL VP Corporate and Governmental Affairs, Chris Abeel; NJCUL VP Compliance and Regulatory Affairs, Nicola Foggie; NJCUL President/CEO, David Frankil; Credit Union of New Jersey President/CEO & League Board Chairman, Andrew Jaeger; NCUA Chairman, The Honorable J. Mark McWatters; Aspire FCU President/CEO, Thomas O’Shea; United Teletech Financial FCU CFO/EVP Francis James; Pinnacle FCU President/CEO & League Board Member, Stephen Lardiere.

The morning included a group meeting with top credit union regulatory officials at the National Credit Union Administration (NCUA) headquarters to discuss the topic of taxi medallion lending. 
The NCUA officials at the meeting included the Chairman of the agency, The Honorable J. Mark McWatters; Sarah Vega, Chief of Staff; Mark Treichel, Executive Director; Larry Fazio, Director, Examination & Insurance; Mike McKenna, General Counsel; and Kathy Doddridge, Senior Legislative and Strategic Advisor.

Following the meeting at NCUA, the group went to Capitol Hill to meet with the offices of Sen’s Robert Menendez (D-NJ) and Cory Booker (D-NJ), and Rep’s Tom MacArthur (R-3) and Josh Gottheimer (D-5). Menendez serves on the Senate Banking Committee and MacArthur and Gottheimer are members of the House Financial Services Committee.

“We had a good discussion of the issues associated with the valuation of taxi medallion assets and the impact on credit unions in New Jersey," said Frankil. "We feel that our concerns were definitely heard, and we look forward to working closely with NCUA going forward.”