Published by the New Jersey Credit Union League, www.njcul.org

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or call 609.448.2426 x121.

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In this issue:

1. LA FIESTA GRANDE: SEPTEMBER 23-25, 2007
2. THE YEAR IN REVIEW NEEDS YOU!
3. NJCUL ANNUAL MEETING VOTING CREDENTIALS DUE BY AUGUST 24TH
4. WHAT HAPPENS AT THE LEAGUE OVER THE SUMMER?
5. LEAGUE OFFERS BSA BOARD TRAINING
6. EDUCATIONAL OPPORTUNITES COMING SOON!
7. WHERE DO I FIND ANSWERS TO LEGAL/COMPLIANCE QUESTIONS?
8. CALLING ALL GOLFERS!
9. YOUR DONATIONS AT WORK
10. VISA GIFT CARDS ARE NOW AVAILABLE TO YOUR CREDIT UNION
11. THINKING ABOUT JOINING THE SHARED BRANCHING NETWORK?
12. NEW JERSEY AND YOU … YOU STICKERS …
13. COMMUNITY CHARTERED CREDIT UNIONS CONFERENCE
14. PREPARE FOR INTERNATIONAL CREDIT UNION DAY
15. SMALL CREDIT UNION TASK FORCE MEETING SET
16. NJCUL CREDIT CARD DATA-BREACH INTRODUCED
17. STATE SALES & USE TAX EXEMPTION INTRODUCED
18. DO YOUR MEMBERS COUNT?
19. ARE YOU CONNECTED?
20. THE LEAGUE'S COMPLIANCE DEPARTMENT PROVIDES TELEPHONE SUPPORT
21. FEDERAL MINIMUM WAGE LAW INCREASE PROMPTS NEW COMPLIANCE POSTER
22. CREDIT UNION CAREERS

La Fiesta Grande
73RD ANNUAL MEETING & CONVENTION –
SEPTEMBER 23-25, 2007
Have you signed up for the convention yet? Will we see you at the Trop? Join your colleagues for La Fiesta Grande, an event that cannot be missed! The registration deadline is August 24, 2007. This is also the deadline for Tropicana Hotel Reservations! To view the Registration Booklet PDF, click on this link: http://www.njcul.org/pdf/convention/07regbook.pdf. To go directly to the Convention Registration Form, click here.

THE YEAR IN REVIEW NEEDS YOU!
What is the year in review? It is one of the highlights of our annual meeting and convention when we look at all the wonderful accomplishments of the credit union movement. We want to make this year’s video presentation spectacular and all inclusive; therefore, we are asking you to submit pictures that do you proud! Pictures should be in good condition! The DEADLINE to submit pictures is Friday, August 24, 2007. If you have questions or require more information, please contact Christian Abeel, director of Government Affairs, at 800.792.8861 ext. 127.

NJCUL ANNUAL MEETING VOTING CREDENTIALS DUE BY AUGUST 24TH
Voting Credential forms for The New Jersey Credit Union League's 73rd Annual Meeting must be received at the League office by August 24, 2007. Completion of these forms permits the credit union to select delegates and alternates to vote on any issues which may arise at the Annual Meeting. Voting Credential forms are included in the Annual Meeting and Convention Registration book and previously sent to all NJCUL members. If you have questions about the Voting Credential forms, please contact the League's General Counsel Robbie Thompson at 609-448-2426.

WHAT HAPPENS AT THE LEAGUE OVER THE SUMMER?
Summer seems to be as busy a time as ever! As you may know, the education department works with the Professional/Volunteer Development Advisory Committee. This group steers the direction of education and provides the valuable input needed to forecast educational solutions for 2008. With summer upon us, many credit unions are challenged with staffing their offices. Face-to-face education slows down and it is the perfect time to try alternative learning solutions.
Click on this link to see the Upcoming Alternative Learning Solutions: http://www.njcul.org/pdf/education07/Fall%202007.pdf

LEAGUE OFFERS BSA BOARD TRAINING
By the end of August the NJCUL Compliance Department will have provided more than twenty-five in-person Bank Secrecy Act training sessions for credit union boards. The FFIEC Manual and NCUA Examiners are requiring that credit union boards have sufficient knowledge about BSA. The League has stepped up to assist credit unions in meeting this knowledge requirement by providing training to board members. Many sessions have been held in the evening and most at the credit union's location. The approximately one hour session focuses specifically on what Board's need to know about BSA.
Arrange for your board to get the training it needs by contacting the League's General Counsel Robbie Thompson at 609-448-2426.

EDUCATIONAL OPPORTUNITES COMING SOON!
If you visit our web site periodically, you may have noticed that we have some great learning opportunities coming up in September!

• Auditing for Fraud September 11, 2007
• Compliance Roundtable September 12, 2007
• Compliance Roundtable September 13, 2007
• Fraud Prevention: Covera Card Solutions September 13, 2007

For specific times and locations, please visit our website!
Also, take a look at the new class added in October: Total Balance Sheet Management and view the PDF for the Two-Day Management Development class!

WHERE DO I FIND ANSWERS TO LEGAL/COMPLIANCE QUESTIONS?
Have you ever asked yourself this question? If so, the September Compliance Roundtables are perfect for you. Robbie Thompson, the League's General Counsel will be doing a presentation for attendees on how and where to find legal, compliance, risk management and security information on the internet.
This session will give you tips on finding the best web sites and using the sites to quickly and easily find answers to many of your compliance questions. The session will also introduce attendees to the League's updated compliance site, League InfoSight. Attendees are encouraged to bring and share information on web sites that they have found to be easy and useful. The roundtables will be held on September 12 at the League office in Hightstown, and on September 13 at Novartis FCU, in East Hanover. Both sessions will be from 10:00am to 12:30pm. More information can be found on the League web site.

CALLING ALL GOLFERS!
The New Jersey Credit Union Foundation’s 4th Annual Golf Outing will be held on Tuesday, September 4, 2007 at the Knob Hill Golf and Country Club in Manalapan, New Jersey. Please join us and help raise money for financial literacy!

Registration information can be found at www.njcul.org or call Yvette Segarra at 800.792.8861 ext.103. Register now!

YOUR DONATIONS AT WORK
Earlier this year the New Jersey Credit Union foundation extended a grant to the New Jersey Coalition for Financial Education. This $10,000 grant was used to create a financial planning simulation and two full-day train-the-trainer conferences for NJ teachers, credit union leaders and youth-serving professionals. The conferences were held on August 6th at the League office and August 13th at North Jersey Federal Credit Union. More than 40 people attended the two conferences and will now be able to bring this important financial education back to youth in schools and in other settings. The New Jersey Credit Union Foundation, a non-profit organization, is funded by two primary sources:

1. Interest on deposits into the Community Investment Fund at corporate credit unions, and
2. the annual golf outing.

This year the annual golf outing will be held on Tuesday September 4th at lovely Knob Hill Golf and Country Club in Manalapan, New Jersey.
Registration information, as well as additional information about the Foundation, is available on the NJCUL web site. You are urged to attend this outing and support the Foundation so that it can continue to promote financial literacy and support special educational activities in connection with the credit union movement throughout New Jersey.

VISA GIFT CARDS ARE NOW AVAILABLE TO YOUR CREDIT UNION
The instant issue Visa Gift Card program is now available to your credit union via our partnership with the Illinois Credit Union League – Service Corporation. With the ICUL-SC program, there is minimal paperwork, no one-time start up cost and no monthly costs to your credit union.

The program works by simply ordering a minimum of 25 gift cards from the ICUL-SC for $1.25 per card plus a $15.00 shipping and handling fee (for card orders up to 150 cards). In order to generate income for your CU, you can elect to mark up the $1.25 fee when your members purchase a card. Suggested retail is $2.50-$5.00. The cards are shipped to your credit union inactive and have a two-year expiration date on them. When your member comes into the credit union to purchase a card, you will simply need to go to a secured internet site, and activate the card by loading a dollar value of the card purchased. After you load the value on the internet site, your members can start using the card within a 24 hour time period and your corporate account will be settled the following day for that dollar amount. There are no more accounting entries to worry about!

Visa is accepted at 20 million locations in 150 countries so your members will not be limited on where they can use this card like the gift cards that are purchased at particular merchants or restaurants. The monthly fee associated with the program begins in month 7 after the card is activated. If there is still value on the card after 6 months, a $3.00 monthly maintenance fee will be deducted from the card. Because this card can be used at virtually all Visa merchants , your members should have no problem using the cards value up within the initial 6 months. Your members will also be able to check the balance on their gift card by dialing an 800 number or visiting a website that is listed on the back of the card. For more information on this great service you can provide your members, please contact Jim Merrill at 800-792-8861. You can also visit the ICUL-SC website at www.iculsc.com to see the various card designs for the gift card program.

Cards will not work for Auto Rentals, Hotel Reservations, pay at the pump for gas stations (will work inside to pay for gas) or ATMs

THINKING ABOUT JOINING THE SHARED BRANCHING NETWORK?
Joining the Shared Branching Network adds value for your members! With the competition so fierce, credit unions need the added convenience that shared branching provides. When your members visit one of the many service centers, they can expect to get the same great service they receive at your credit union because shared branching locations all have a common goal-great member service. When your member enters one of the many service centers, they simply supply the teller with their credit union’s name, account number and photo identification to easily access their account [free of charge]. Here are some examples of transactions available at shared service center locations nationwide:

• Deposits
• Withdrawals
• Check cashing
• Transfers between accounts
• Loan payments
• Money orders and traveler's checks

For a complete directory of participating locations in New Jersey and across the country, visit www.cuservicecenters.com to access addresses, phone numbers, and hours of operation.

NEW JERSEY AND YOU … YOU STICKERS …
Planning on traveling soon? Looking for a way to quickly identify your luggage at the airport? YOU stickers are the perfect solution! Not only will they help YOU find your luggage easily, they will also help YOU spread the credit union message when questioned on what the YOU is all about!

COMMUNITY CHARTERED CREDIT UNIONS CONFERENCE
CUNA is offering the first annual Community Credit Union Conference this fall at the Mohegan Sun. This conference is designed for credit unions that have a community charter or who are thinking about one. The sessions will cover a variety of topics that are key to making an impact on growing membership. For more information, visit http://training.cuna.org/on_site/CUCCT07_fct.html.

PREPARE FOR INTERNATIONAL CREDIT UNION DAY
Make sure you are ready to celebrate this year! International Credit Union Day® is October 18, 2007. CUNA has planning and celebration resources on their web site for credit unions to use in promoting the worldwide theme: “Together We're Better.”

"This year's theme demonstrates the fact that credit unions serve their members most effectively, and simultaneously strengthen the credit union movement, by working together at the local, state, national and international levels," said Dan Mica, president/CEO of the Credit Union National Association (CUNA).

ICU DAY HIGHLIGHTS:

• Early-bird pricing on official ICU Day promotional products when credit unions order before September 12.
• Free ICU Day graphics.
• Free celebration ideas, media tips, and promotional materials.
• Share celebration ideas and stories on the ICU Day message board.

Find these resources at: http://finlit.cuna.org/icuday_index.html.

SMALL CREDIT UNION TASK FORCE MEETING SET
The challenges faced by New Jersey’s small asset sized credit unions are numerous. Competitive pressures, advances in technology, compliance regulations, as well as many other factors make survival very difficult.

The New Jersey Credit Union League recognizes the important place our state’s small asset sized credit unions play in each of their respective communities. As a result, the New Jersey Credit Union League has decided to take the positive step of exploring the components of an initiative to aid in the survival and efficient operations of our states small asset sized credit unions. This proposed initiative evolves as an outgrowth of the League’s small credit union committee and small credit union roundtable, held earlier this year.

This process will be a two-phase project. Phase one will involve the task force identifying components of the proposed initiative. Phase two will involve the New Jersey Credit Union League implementing the recommendations of the task force.

The task force has scheduled their first meeting for Tuesday, September 11. Task force members are: Christina Olender, Parlin Dupont Employees FCU, Tom Cooke, Elizabeth Firemen’s FCU, Deborah Barton, NCUA, Alice Stevens, First Financial FCU, Bill Warren, Manville FCU, Elizabeth Frentz, Public Service FCU, Margie Walker-Horsch, Linden Police and Fire FCU, James Merrill, NJCUL and Robbie Thompson, NJCUL. The task force would like to add additional participants. If you would like to participate, please contact Jim Merrill at the League office, 800-792-8861 x 120.

NJCUL CREDIT CARD DATA-BREACH INTRODUCED
Legislation that would limit retailers’ use and retention of personal customer information, hold a breaching party financially responsible for resulting losses including the cost of card replacements and fraud, and allow issuers to disclose to their card-holders the entity responsible for the breach was introduced June 18, 2007. In March, we hosted a meeting with the bankers associations to discuss mutual concerns and interests in this area. The legislation, A-4413 sponsored by Assembly Financial Institutions & Insurance Committee Chair Neil Cohen (D-20), is the result of our partnership with the community bankers.

For more information on this and other state or federal issues contact Chris Abeel, the League’s director of government affairs at 800.792.8861, ext 127 or cabeel@njcul.org.

STATE SALES & USE TAX EXEMPTION INTRODUCED
Legislation that would exempt purchases made by state chartered credit unions from NJ sales tax giving them parity with their federally chartered counterparts was introduced June 18, 2007. While similar bills have been introduced over the past few years, this bill, A-4403, is sponsored by Assembly Majority Leader and State Democratic Committee Chair Bonnie Watson Coleman (D-15) significantly improving its prospects for favorable consideration. Special thanks go to Shirley Spruill, president of Renaissance CDCU and chair of the NJ Credit Union Advisory Council for leading this initiative. Her efforts secured Assemblywoman Watson Coleman’s sponsorship, without which serious consideration was extremely unlikely.

For more information on this and other state or federal issues contact Chris Abeel, the League’s director of government affairs at 800.792.8861, ext 127 or cabeel@njcul.org.

DO YOUR MEMBERS COUNT?
A letter and CD were recently sent to every credit union in the country asking them to update their Project Zip Code (PZC) numbers. Will your members be among the millions of credit union members willing to stand up and be counted? Help us ensure our state and federal lawmakers understand just how many of their constituents are credit union members. It takes just a few minutes and no personal data is ever collected.

PZC is a constituent matching program that connects credit union members with their state and federal lawmakers. As a result, we’re able to illustrate to elected officials the number of credit union members in their district, which is an extremely powerful advocacy tool.

No personal data or individual information leaves your computer. PZC receives only the counts of records successfully matched. All of your data remains confidential and secure and Project Zip Code is compliant to the privacy laws created in Gramm Leach Bliley.

For more information contact Chris Abeel, the League’s director of government affairs at 800.792.8861, ext 127 or cabeel@njcul.org.

ARE YOU CONNECTED?
The League’s bi-monthly government affairs newsletter, Capitol Connections, keeps readers “plugged-in” to the public policy arena. It includes briefings on important goings-on in Washington (On-the-Hill) and Trenton (Under-the-Dome), has sections on credit union movement grassroots activities (In-the-Trenches) and key issues (On-the-Soapbox), as well as backgrounders on who’s who (Meet-the-Players), interesting facts (Trivia-not-Trivial) and important calendar items (Save-the-Date).

If you’re not already “plugged-in”, contact Chris Abeel, the League’s director of government affairs, to be added to the Capitol Connections electronic distribution list.

THE LEAGUE'S COMPLIANCE DEPARTMENT PROVIDES TELEPHONE SUPPORT
Do you ever have a compliance or regulatory issue that you can't find the answer to? How about a debate in the office about what a regulation requires? Well if you do, the League's compliance department is here to help. Every month the League's compliance staff receives numerous calls from credit unions with compliance questions on lending, deposit regulations, collections, operations, policies, Bank Secrecy Act, and other areas that affect your credit union. While the League cannot provide you with legal advice, it can answer regulatory questions as well as point you to or provide you with additional valuable resources. This is another benefit included with membership in the New Jersey Credit Union League. Take advantage of this benefit by calling your League when you need assistance at 800.792.8861.

FEDERAL MINIMUM WAGE LAW INCREASE PROMPTS NEW COMPLIANCE POSTER
Under the Federal minimum wage law all employers are required to post in their place of employment a poster that states the federal minimum wage law. Beginning July 24, 2007 the federal minimum wage will increase to $5.85 per hour. Although this law does not affect the pay practices of credit unions in New Jersey, since the New Jersey minimum wage law is higher at $7.15 per hour, it did however require that credit unions put up new federal law posters by July 24, 2007, which reflect the $5.85 per hour rate. If you use a service to keep you up on your posters you should have received the new poster, otherwise you can access the new federal poster at: http://www.dol.gov/esa/regs/compliance/posters/flsa20070724.htm

CREDIT UNION CAREERS
Whether you are looking to fill a position at your credit union or looking for future employment, as a league member, it’s easy! Click here to see current vacancies.