League, CU Advocates Meet with Congressman Payne

HIGHTSTOWN, N.J. – The New Jersey Credit Union League (NJCUL) and credit union advocates, including a credit union board member from Federal Employees (Newark) FCU, met Monday with Congressman Donald Payne, Jr. (D-10).

CECL Symposium Informs with Expert Insights and Solutions

HIGHTSTOWN, N.J. – The CECL Symposium, held live at the League office on September 20, provided attendees and sponsors with a very comprehensive presentation on this major accounting change; the biggest change to occur in over thirty years. The main speaker, Michael Umscheid, President and CEO of ARCSys, set the stage as he shared a FASB update and then provided a thorough explanation of all the components that a credit union needs to consider before committing to a CECL Model. After this presentation, the audience heard from various solutions providers who gave overviews and demos of their products.

League, CU Advocates Meet with Reps Pallone and Pascrell

The New Jersey Credit Union League and credit union advocates met Monday morning with Congressman Frank Pallone (D-6) and in the afternoon with Congressman Bill Pascrell, Jr. (D-9). Pallone is the ranking Democrat on the House Energy and Commerce Committee and is in line to become chairman if the Democrats capture a House majority in the November mid-term elections. Pascrell serves on the House Ways and Means Committee. Both committees are extremely important when it comes to credit union-related legislation.

League, CU Advocates Meet with Senator Booker’s State Director

The New Jersey Credit Union League (NJCUL) and credit union advocates met Thursday with George Helmy, Sen. Cory Booker’s (D-NJ) state director, and other senior state staff to discuss credit union priorities for the balance of the 115th Congress. The discussion focused on post-S. 2155 regulatory relief priorities, the need for the Department of Justice to issue Americans with Disabilities Act (ADA) Web site compliance rules, the ongoing problem of merchant data breaches and the need to subject retailers to the same data security requirements as card issuers, and issues relating to NCUA’s treatment of taxi medallion loans and participations.

Virtual Cybersecurity Expo Delivers!

HIGHTSTOWN, N.J. – With the promise of a blend of education and solutions, the Virtual Cybersecurity Expo delivered.

League Announces Convention Scholarship for Emerging Leaders

The New Jersey Credit Union League is proud to announce a scholarship available to emerging credit union professionals to give the next generation of leaders a chance to receive valuable education and to network with their peers as well as credit union executives at our 2018 Annual Convention, taking place October 21-23 at the Golden Nugget in Atlantic City. The scholarship (made possible by the generosity of a few anonymous credit unions) will off-set the cost of the registration fee for the League's new Emerging Leaders track.

NJCUL Hosts its second session on Cybersecurity: NCUA on the ACET and CAT

The National Credit Union Administration's (NCUA) Len Siwak and Alexis Pezza presented detailed information about the Automated Cybersecurity Examination Tool (ACET), and how it was developed and will be utilized by the agency at the New Jersey Credit Union League's Cybersecurity Roundtable on Wednesday.

Cyber-Breaches to Result in Over 146 Billion Records Being Stolen by 2023, Data-Security Front and Center for In-District, Recess Meetings with NJ’s Congressional Delegation

report released last week by UK-based Juniper Research estimates that cybercriminals will steal more than 146 billion personal and financial data records globally over the next five years. In addition, the firm expects the U.S. to become an even bigger target for data breaches, with over half of all breaches to occur here by 2023.

League Meets with Congressman Norcross

The New Jersey Credit Union League (NJCUL) met with Congressman Donald Norcross (D-1) Thursday to discuss credit union priorities for the balance of the 115th Congress. The discussion focused on post-S. 2155 regulatory relief priorities, the need for the Department of Justice (DOJ) to issue Americans with Disabilities Act (ADA) Web site compliance rules, the ongoing problem of merchant data breaches and the need to subject retailers to the same data security requirements as card issuers, and issues relating to NCUA’s treatment of taxi medallion loans and participations.

NJCUL Meets with Congressman Lance

The New Jersey Credit Union League (NJCUL) met with Congressman Leonard Lance (R-7) Tuesday to discuss credit union priorities for the balance of the 115th Congress. The discussion focused on post-S. 2155 regulatory relief priorities, the need for the Department of Justice to issue Americans with Disabilities Act (ADA) Web site compliance rules, the ongoing problem of merchant data breaches and the need to subject retailers to the same data security requirements as card issuers, and issues relating to NCUA’s treatment of taxi medallion loans and participations.

League Welcomes NJ Delegation Support of U.S. House ADA Letter

U.S. Rep’s Leonard Lance (R-7), Frank LoBiondo (R-2), Tom MacArthur (R-3) and Bill Pascrell (D-9) signed on to the Budd-Correa colleague letter to Attorney General Jefferson Sessions regarding the Americans with Disabilities Act (ADA) Web site accessibility guidelines.

NJCUL CEO David Frankil Makes the Case for CU Reg Relief in Recent ROI-NJ Article

The changes to the Dodd-Frank Act included in S.2155 were “the best thing to happen to community banks and credit unions in some time,” a recent article in ROI-NJ points out. In the article, New Jersey Credit Union League President/CEO David Frankil explains that credit unions were greatly burdened by certain aspects of Dodd-Frank. “One of the challenges we’ve always had, which was amplified by Dodd-Frank, is that credit unions get lumped into the same category as Wells Fargo or Bank of America when it comes to regulations,” Frankil said. “We didn’t cause the crisis; we’re the good guys. It was kind of like adding insult to injury to be treated as though we were the problem.”

Golfers Enjoy a Day on the Greens at NJCUL’s 30th Annual Golf Tournament

MONROE TOWNSHIP, N.J. – Golfers from across the state came together at Forsgate Country Club Tuesday for a day on the greens at NJCUL’s 30th Annual Golf Tournament. Despite the clouds and rain showers, golfers enjoyed a great day on the greens on the beautiful Banks Course.

NJCUL Hits a Home Run with the 2018 Director Conference

Working with a subset of the NJ DNA Group (NJ Director and Volunteer Alliance Group) as a steering committee, a team of directors worked closely and collaboratively with the League to be sure that the content of this past weekend’s Director Conference was developed by New Jersey credit union directors for New Jersey credit union directors. The meeting exceeded expectations and had a nice mix of left and right brain topics.

NJ Joins Annual GAC Hike-The-Hill, Discussions Included ADA and Taxi Medallion Issues

WASHINGTON – After wrapping up at the Wednesday morning session at CUNA’s Governmental Affairs Conference, leaders in attendance headed to Capitol Hill for meetings with their legislators. Nine professionals and volunteers from six New Jersey credit unions joined NJCUL President/CEO David Frankil and Vice President of Corporate & Governmental Affairs Chris Abeel in meetings with the offices of 13 of New Jersey’s 14-member delegation.

Congressman Gottheimer Visits with NJ CU Advocates at League’s GAC Dinner

WASHINGTON – The newest member of the state’s congressional delegation Rep. Josh Gottheimer (D-5) joined New Jersey credit union advocates at a New Jersey Credit Union League dinner in Washington, DC Tuesday evening. The dinner was held for NJCUL-member credit unions that are in Washington this week for CUNA’s Governmental Affairs Conference (GAC).

23 CU Professionals Receive Free HR Management Training at NJCUL and Jersey Shore FCU Through Second Round of League’s Rutgers Training Grant

Credit union professionals gathered at the League office and virtually over the internet at Jersey Shore FCU last week for free HR management development training. This two-day “Supervisory Symposium” training is available to NJCUL member credit unions through a partnership with Rutgers University, underwritten by an $89,000 educational grant from the State of New Jersey secured by the League earlier this year.

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.

Yvette Segarra Celebrates 30 Years at the League!

Yvette Segarra, the League’s Manager of Member Experience, Conferences & Events, is celebrating her 30th anniversary at the New Jersey Credit Union League. A fixture in the New Jersey credit union system, Segarra started at the League in 1987 as a receptionist. In her current position, Segarra touches almost all areas of the League’s business and is the League’s longest tenured employee.

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.

NJCUL’s ELT Op-Ed Sent to NJ Papers, Picked Up by Cape May County Herald

NJCUL President/CEO David Frankil recently penned an op-ed on New Jersey’s need for electronic lien and titling (ELT) legislation, especially in the wake of a recent auto lending scheme here in the Garden State that netted “well over half a million dollars” – and could’ve been avoided with electronic filing. The op-ed piece has been picked up by the Cherry Hill Courier Post and Cape May County Herald.

NJCUL’s ELT Op-Ed Sent to NJ Papers, Picked Up by the Cherry Hill Courier Post and Cape May County Herald

NJCUL President/CEO David Frankil recently penned an op-ed on New Jersey’s need for electronic lien and titling (ELT) legislation, especially in the wake of a recent auto lending scheme here in the Garden State that netted “well over half a million dollars” – and could’ve been avoided with electronic filing. The op-ed piece has been picked up by the Cherry Hill Courier Post and Cape May County Herald.

$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.