NEW YORK – New Jersey Credit Union League President/CEO Paul Gentile brought the credit union member business lending (MBL) message to the airwaves on Tuesday, May 15th, when he spoke on a panel moderated by radio show host Geraldo Rivera at a “Putting America Back to Work” job fair at the Javits Center in New York City.
NJCUL President/CEO Paul Gentile (left) answering questions from host Geraldo Rivera (right) during the live panel discussion.
Gentile spoke on the panel along with host Geraldo Rivera; Michael J. Lindell, Inventor, MyPillow; Barry Sloane, CEO, Newtek; and Mike Murphy, SVP of Operations, Quick Check from 10 a.m. to 12 p.m. The panel discussion was broadcast live on WABC 770 AM.
When introducing Gentile, Rivera pointed out that credit unions are pushing for legislation that would help put America back to work. Gentile explained that if Congress passed the legislation, credit unions could lend up to an additional $13 billion in the first year if the MBL cap was raised to 27.5%, creating over 140,000 new jobs across the nation at no cost to taxpayers.
Pictured from left to right: Quick Check SVP of Operations Mike Murphy; NJCUL President/CEO Paul Gentile; host Geraldo Rivera; MyPillow Inventor Michael J. Lindell; and Newtek CEO Barry Sloane.
Gentile went on to explain that credit unions have been lending to their business-owning members for a century; there was no member business lending cap prior to 1998. And unlike banks, credit unions have a sound track record when it comes to business loans, specializing in lower loan amounts.
Listen to a recording of the Geraldo show featuring Paul Gentile as a panelist by clicking here.