HIGHTSTOWN, N.J. - The NJCUL has been aggressively supporting legislation (S-1807, A-1597) pending in Trenton to change a forty year-old N.J. statute that prevents local government entities such as school boards, and county and local governments from utilizing credit unions as depositories.
The legislation has passed the state Senate and is pending in the Assembly Financial Institutions & Insurance Committee. The Assembly bill has a growing number of important sponsors and cosponsors, including Assembly Speaker Sheila Oliver. However, the committee has yet to conduct its hearing so that the bill can be released for a vote by the entire Assembly.
To encourage committee action on the bill, the NJCUL has been ramping-up its grassroots efforts. Last month it aired municipal deposit reform-themed radio spots during 101.5 FM's monthly Ask the Governor call-in program. The spots directed listeners to our Banking You Can Trust Web site where they could learn more about the issue and contact their lawmakers in Trenton. The broadcast aired just two days after the governor's annual budget message.
The League is now launching a grassroots postcard campaign with the goal of sending 5,000 postcards to selected Assembly members based on credit union membership demographics and key legislative districts.
Participating credit unions will be given a supply of postcards depending, in part, on its membership demographics. They are being asked to have employees, volunteers and members complete two postcards each with their name and address. The postcards will then be matched and sent to the individual's respective Assembly lawmakers.
"A strong showing on this campaign is not only critical to municipal deposits reform, it's important to future Trenton efforts as well because it will demonstrate just how engaged the credit union constituency really is," according to NJCUL President/CEO Paul Gentile. "We've told them our numbers. Now they need to hear those numbers," he concluded.