Friday, January 21, 2011 11:29:00 AM
HIGHTSTOWN, N.J. - In recognition of the difficult economic and operating environment facing credit unions, the New Jersey Credit Union League has enacted a one-time 10% NJCUL dues rebate for all affiliated credit unions for the 2011 dues year.
"With continued NCUA assessments and a challenging economy, we want to assist our members in any way we can. We already do that through advocacy and high-quality association services, but this year we are also offering a 10% across the board NJCUL dues rebate," said NJCUL President/CEO Paul Gentile.
The minimum NJCUL dues rebate is $250. This ensures that even NJCUL's smallest members receive relief.
"This is just one step. We will be seeking new ways to assist our members throughout 2011. We will also continue to press NCUA to reconsider its 12% budget increase and to fully utilize the tools at its disposal to lessen the corporate assessments. The 20-25 basis point estimate for 2011 is just too high based on the estimated losses and the time period the agency has to work with," said Gentile.
For League members that have already paid their dues, rebate checks will be provided. League members do have the option to forego their 10% NJCUL dues rebate and pledge their rebate to the Advertising Cooperative program that fuels the "Banking You Can Trust" statewide advertising campaign. The pledge will qualify you for the benefits of Ad Co-Op member benefits.
Please contact the League with any questions regarding the 2011 NJCUL 10% dues rebate.