Assembly to Vote on Municipal Deposits Reform Today

Posted by Marissa Anema Wednesday, June 29, 2011 10:59:00 AM

TRENTON, N.J. - Legislation that would enable counties, school boards, municipalities, and other local government entities to utilize credit unions as depositories (S-1807/A-1597) has been scheduled for consideration by the full New Jersey Assembly today.

The bill is sponsored by Assembly Speaker Shelia Oliver (D-34), Deputy Speakers Upendra Chivukula (D-17), and John Wisnieski (D-19), and has 13 additional co-sponsors from both sides of the aisle.

A companion bill (S-1807) sponsored by Senate President Sweeney (D-3), Senate Republican Conference Leader Bob Singer (R-30), and Deputy Majority Leader Paul Sarlo (D-36) passed the Senate last June.

The New Jersey Credit Union League has been leading a precedent-setting, multi-faceted grassroots campaign in support of the legislation that has included some 5,000 postcards from credit union volunteers, professionals, and members, two Credit Union Days at the State House, and credit union exhibits at the various government-related conventions.


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