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

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In this issue:

1. Save the Date: NJCUL’s 19th Annual Golf Outing
2. 73rd Annual Meeting & Convention - September 23-25, 2007
3. New Shared Branching Location
4. April was a busy month for education!
5. CURIA Re-Introduced as H.R. 1537
6. Beyond Property Tax Reform
7. New Jersey’s Presidential Primary
8. Do Your Members Count?
9. I Didn’t Know Project Zip Code Could Do That!
10. NJ Lobbyist Registration & Reporting, Among Nation’s Strictes
11. Congress Eyes New & Stricter Ethics Rules
12. Join the Advertising Cooperative: We Need YOU!
13. Web site Compliance Topic for Compliance/Fraud/Risk Management Roundtables
14. Effective Date of New SAR Form Delayed
15. Professional Services Group to Provide Discounted Wireless Service
16. Jobs, Jobs and More Jobs

Save the Date: NJCUL’s 19th Annual Golf Outing
Mark your calendar and get ready to tee off! The 19th Annual NJCUL Golf Outing is scheduled for Tuesday, June 12, 2007 at the Cranbury Golf Club in Cranbury, NJ. For more information or to download a brochure click here, but if you’d like to be a sponsor at this popular outing, contact Yvette Segarra at ysegarra@njcul.org or call 609.448.2426 x103.

73rd Annual Meeting & Convention - September 23-25, 2007
New place. New Dates. Great New Opportunities. This year’s Annual Meeting & Convention is poised to be our best yet. Some of the great reasons to mark your calendar: We’ve moved to the Tropicana! That means there will be no more trouble getting rooms! That’s right. Our entire group will be housed under one roof and what a roof it is! With great shops and restaurants, you’ll never have to venture outside, but if you want to, the beautiful September air will be there to greet you. Stay tuned and watch your mailboxes for information on this exciting event! If you’d like to exhibit or know someone who might, please contact Yvette Segarra at 609.448.2426 x103.

New Shared Branching Location
We invite you to visit the newest addition to the shared branching network: Credit Union of New Jersey, 4364 Route 130, Willingboro, N.J. 08046-1461. At this new service center your members 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 they enter this new service center, they simply supply the teller with your credit union’s name, their account number and photo identification to easily access their account [free of charge]. Here are some examples of transactions available at CUNJ in Willingboro, and other 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.

April Was A Busy Month for Education!
The last Decedent Account Mini-Session was held at Campbell Employees Federal Credit Union with 15 in attendance. Consumer Lending Fundamentals II held at the NJCUL also received very good evaluations.

Our second Mini-Session was a huge success: Reading Credit Reports. We had record breaking numbers for these sessions and great reviews!

Thank you to all the credit unions who hosted sessions in April: Campbell Employees FCU, Novartis FCU, Proponent FCU and Bay Atlantic FCU! Our increased participation validates the need to bring education closer to you.

The following Roundtables were presented in April: Finance, Accounting & Investments, Collections, and Marketing! They all had good attendance and the feedback was very positive! If you have not yet experienced the value of a Roundtable, give it a try.

The Small Credit Union Roundtable scheduled for May 19, 2007 at the NJCUL will cover two very important topics: Human Resources – Your most valuable asset and BSA.

The next Compliance Roundtables are May 23, 2007 at North Jersey FCU and May 24, 2007 at NJCUL; the topic is Web site Compliance (see below for more information.) Mark your calendar for June 27, 2007 for this Lending Roundtable session: “Strategies to Grow Your Loan Portfolio” being held at McGraw-Hill Employees FCU.

April also featured our annual Leadership Conference. Held at the beautiful Borgata Hotel and Spa, attendees and guests enjoyed a great program! The education was valuable, the keynote speakers very motivating and the food was delicious!

In May, along with the Roundtables mentioned above, we are offering the following education sessions: CU Ratios and Financial Statements on May 8, 2007 and Advanced Lending Strategies on May 16, 2007 at the NJCUL.

In June, we will offer the following Mini-Session: Employment Law and Due Diligence on June 5, 2007 at the NJCUL, June 6, 2007 at Proponent FCU in Nutley, NJ and June 7, 2007 at Ft. Billings in Paulsboro, NJ.

June QuickBite Topics: Payday Lending on June 5, 2007 and Advanced Branding on June 12, 2007. Registering for a QuickBite is easy! Just visit our web site and complete a General Registration Form. Be sure to include your e-mail address as the instructions, dial up access codes and handout material will be sent electronically.

The brochures have been mailed for the Supervisory Committee and Internal Audit Conference being held in Atlantic City on June 24-27, 2007. This CUNA School is being co-sponsored by five state leagues: NJ, PA, DE, MD/DC and WV.

For more information on any educational opportunities, please contact Barbara Agin at 609-448-2426 x111 or visit our Web site: www.njcul.org.

CURIA Re-Introduced as H.R. 1537
After months of preparation, a new “Credit Union Regulatory Improvements Act” has been introduced in the US House of Representatives by two, long-time credit union supporters, Representatives Paul Kanjorski (D-PA) and Ed Royce (R-CA).

Containing three titles, HR 1537 focuses on modernizing credit union capital and net worth standards, advancing credit unions to promote economic growth (such as through member business loans), and modernizing credit union activities, governance and oversight. The bill is similar to the version of CURIA introduced in the 109th Congress which was ultimately co-sponsored by 126 House members (better than one in every four) including five members of our state’s delegation, Representatives Andrews, Pallone, Payne, Pascrell and Rothman.

The bankers have already been actively opposing CURIA. The American Bankers Association (ABA) ran an advertisement in Hill publications before CURIA was introduced and the Independent Community Bankers of America (ICBA) sent a letter to all House members asking them to oppose CURIA. They have also had bankers in Washington over the past couple of weeks meeting with lawmakers encouraging them to oppose the legislation.

The battle lines have been drawn. As in the past, credit union support for the bill is essential. We need broad support from credit union CEOs across the country. Now that HR 1537 has been introduced and the bankers are already voicing their opposition, we will be reaching out to our members with a call to action to encourage support, if not co-sponsorship, from among New Jersey delegation members.

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

Beyond Property Tax Reform
While long-awaited property tax relief bills have been signed into law, the jury’s still out on exactly how meaningful the measures will prove. Meanwhile, political corruption revelations continue to surface almost daily, with no end in sight. As the November elections approach there is concern we might see a wave of legislative activism aimed at assuaging general voter discontent. A record number of lawmakers have announced retirement, the most in any one election year in a generation or more. Clearly lawmakers are worried an anti-incumbent tide could be on the horizon. This may spell problems for the private sector. We’re seeing, for example, onerous employee benefit mandates such as 12 weeks of paid family leave (regardless of employer size) and unlimited health coverage for behavioral and substance abuse problems receive broad-based support. With control of both houses of the legislature at stake, the environment in Trenton could prove volatile between now and November 5th.

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

New Jersey’s Presidential Primary
After years of being essentially ignored by presidential primary campaigns, on April 1, 2007 Governor Corzine signed legislation (S-2193) that moved New Jersey’s presidential primary election from June to February. Unfortunately, numerous other states are employing a similar strategy which promises to eclipse New Jersey’s effort to command more attention from presidential hopefuls. Neighboring New York has frontrunner's on both sides of the aisle who have already secured the lion’s share of their respective party’s meaningful endorsements here so, despite efforts to the contrary, it seems unlikely New Jersey will prove a serious player in the 2008 presidential nomination process.

For more information on these and other state 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 among the millions of credit union members to stand up and be counted? Help us ensure our state and federal lawmakers understand just how of 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 unions 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.

I Didn’t Know Project Zip Code Could Do That!
The Credit Union National Association (CUNA) and the NJ Credit Union League have teamed up to offer a free program called Project Zip Code (PZC). The software program will help you better serve your members in many ways.

By participating in PZC, credit unions of all shapes and sizes will enjoy another marketing tool to continue their high level of service to members. PZC allows credit unions to match their membership to federal and state districts so the credit union can determine how many members live in specific geographic areas. The credit union can use this valuable information for internal marketing purposes like examining the feasibility of shared branching or determining the best locations for branch expansion and ATM services, based on the geographic concentration of membership.

Not planning any shared branching, ATM expansion, or other marketing initiatives in the near future? No problem, PZC has other uses which are critical to the health and long term strength of the credit union movement. PZC matches your membership file with federal and state district information allowing you to identify which (and how many) of your credit union members live in each respective district. This information is extremely valuable when you’re meeting with Members of Congress or state lawmakers. Many lawmakers do not know how many credit union members live in their district.

Participating regularly in PZC and sharing this information with your elected officials is an important part of being a strong credit union advocate!

Your information is safe and secure with Project Zip Code. No personal data or individual member information leaves your computer. The counts, or number of credit union members matched, are uploaded to a secure section of CUNA’s web site. All of your credit union member data remains confidential and secure on the computer where PZC is run. Project Zip Code is compliant to the privacy laws created in Gramm Leach Bliley.

We need your numbers today! If you have any questions please contact Chris Abeel, the League’s director of government affairs at 800.792.8861, ext 127.

NJ Lobbyist Registration & Reporting, Among Nation’s Strictest
Did you know that NJ’s registration and reporting requirements for lobbyists are among the most comprehensive and complicated in the nation? In short, anyone who spends more than 20 hours, or is paid or reimbursed more than $200, a year for attempting to “influence a governmental process” (legislation, regulations or the award of contracts or permits) must register as a lobbyist with the NJ Election Law Enforcement Commission (ELEC) and is subject to periodic reporting.

Credit union directors, employees or members who have regular dealings with NJ lawmakers or state officials should consult the ELEC web site (www.elec.state.nj.us) for registration and reporting requirements.

NJ Credit Union Advisory Council appointees are not required to register. Council members are not exempt per se, just those activities in connection with their council-related duties.

For more information about this or other government affairs issues contact Chris Abeel, the League’s director of government affairs at 800.792.8861, ext 127.

Congress Eyes New & Stricter Ethics Rules
In the wake of the Jack Abramoff scandal Congress is eyeing new and stricter ethics rules.

The House and Senate have each passed changes to their respective ethics rules. The House changes are in effect. The Senate changes will not take effect until other unrelated provisions in the bill that carries them are acted upon by the House. Some Senate offices, however, are already observing them.

Both houses have tightened their gift rules in the same way. Both have banned gifts from registered lobbyists or private entities that retain or employ them. Others can give gifts valued at less than $50. Such “others” can, for example, provide a meal at a briefing for members of Congress and their staff if the meal is valued at less than $50 per person.

Exceptions to the ban may include, but are not limited to:

• Informational materials;
• Anything paid for by the federal government, state, or local government;
• A plaque, trophy, or other item that is substantially commemorative in nature and that is intended for presentation;
• Free attendance at a widely attended event such as a chapter meeting

  if member or staffer participates in the event as a speaker or panel participant by presenting information related to Congress or matters before Congress, or by performing a ceremonial function or; attendance at the event is appropriate to the performance of official duties or representative functions of the member or staffer.

• Food or refreshments of a nominal value offered other than as part of a meal (for example, small bags of peanuts valued at less than $10);
• Donations of products from the district or state that the member represents that are intended primarily for promotional purposes;
• Items of nominal value such as greeting cards, baseball caps, or t-shirts.

It is expected that scrutiny over the ethical conduct of lobbying and the influencing of public policy and governmental processes will continue to grow, as will the associated rules and reporting requirements.

For more information about this or other government affairs issues contact Chris Abeel, the League’s director of government affairs at 800.792.8861, ext 127.

Join the Advertising Cooperative: We Need YOU!
The NJCUL Advertising Cooperative is hard at work planning our next round of advertising and advocacy efforts. If you haven’t paid your voluntary dues yet, please hurry. The sooner we have the funds set aside, the sooner we can move on our next round of exciting activities. Need more info? Visit: http://www.njcul.org/members/index.asp or call Sharon Dilling at 609.448.2426 x110.

Web site Compliance Topic for Compliance/Fraud/Risk Management Roundtables
The League will be hosting two compliance/fraud/risk management roundtables in May. The first will be held May 23rd at North Jersey FCU in Totowa, NJ followed by a second roundtable at the League offices in Hightstown on May 24th. The speaker for both roundtables, which will be held from 10:00am – 12:30pm, will be Tom Drago from RSM McGladrey. Tom will utilize his vast of experience in conducting web site compliance reviews to provide attendees with valuable information regarding the top Web sites compliance concerns with and tips on how to ensure that your Web site remains in compliance. Registration for a Roundtable is available on the NJCUL Web site.

Effective Date of New SAR Form Delayed
The Financial Crimes Enforcement Network (FinCEN) has delayed the effective date of new a Suspicious Activity Report (SAR) form. On December 21, 2006, FinCEN issued a notice on its Web site explaining that financial institutions, including credit unions, could begin to use the new SAR form on June 30, 2007, with a mandatory compliance date of December 31, 2007. The new form was issued to support joint filings, reduce duplicate filings, and make other technical modifications to the form. Thus credit unions must continue to use the existing SAR form until informed otherwise. FinCEN’s Federal register notice announcing the delay of the form is available at, http://www.fincen.gov/sar_fr_notice.pdf

Professional Services Group to Provide Discounted Wireless Service
Professional Services Group is now able to offer Sprint Nextel service to credit unions and their members at discounted rates.

"We’re thrilled to be able to offer New Jersey credit unions and their members the superior wireless service Sprint Nextel is known for at a discounted rate. This partnership offers credit unions another way to showcase the value of membership," says Vice President of Business Development, James Merrill.

Under the partnership agreement, members will receive a 10 percent discount on all monthly recurring charges including service rate plans and features.

The discount also includes nationwide from coast-to-coast coverage, simplified calling plans, national rates with no roaming and long distance charges and the advantage of keeping their existing phone numbers, regardless of the provider they are currently with. Members who are existing Sprint Nextel customers can also take advantage of this opportunity.

All marketing and promotional materials are provided FREE of charge to your credit union. Plus, there are marketing incentives to be earned. To sign your credit union up for participation, call 800.792.8861 ext.120.

Members can call 877.SAVE.4.CU (877.728.3428) or visit any Sprint Nextel company owned store nationwide. Existing Sprint customers can call 866.853.4931. Existing Nextel customers can call 800.390.9545 or visit www.SprintSave4CU.com for more information. When taking advantage of this savings opportunity, members just need to say they are a Credit Union Member.

Sprint Nextel offers a comprehensive range of wireless communications services bringing the freedom of mobility to member and business users. Sprint Nextel is widely recognized for developing, engineering, and deploying innovative technologies, including wireless networks serving 53.1 million customers at the end of 2006; industry-leading mobile data services; instant national and international walkie-talkie capabilities; and an award-winning and global Tier 1 Internet backbone.

Jobs, Jobs and More Jobs
Find a job at a credit union or post a vacancy. It’s easy if you are a league member. Click here to see current vacancies.