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

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In this issue:

1. International Credit Union Day and New Jersey's Credit Unions: The Difference YOU!
2. 72nd Annual Meeting and Convention
3. On-the-Hill
4. Under-the-Dome
5. CU’s Beat-back Bank Attack!
6. Calls-to-Action
7. Legal Ease
8. Jobs, Jobs and More Jobs
9. Training Offered at Multiple Locations
10. Using Strategic Planning as a Business Strategy for Your Credit Union

1. International Credit Union Day and New Jersey's Credit Unions: The Difference YOU!
On October 19, 2006, in celebration of International Credit Union Day, the NJCUL Advertising Cooperative will kick-off our statewide advertising and advocacy campaign – New Jersey’s Credit Unions: The Difference YOU!

A Day of C- YOU Domination!

In a day of credit union domination, the Ad Coop will run a series of 5 TV ads on NBC-40 and News 12 New Jersey, radio ads on NJ 101.5, and newspapers statewide will feature the trademarked “Blue YOU Dot,” and photos of “Bob, The Credit Union Guy.” There will also be a “Spot the Dot” promotion and many of the Cooperative Credit Unions are going to be giving YOU items away to all those who stop by their branches.

A complete schedule of events will be posted on the NJCUL Web site soon!

Watch Your Mailboxes.

Non Ad Coop members will receive a small gift in celebration of the day. Ad Coop members will receive a complete “YOU campaign” marketing kit which includes buttons, lapel pins, a DVD with the ads, a CD with logos, photos and other useable marketing pieces, window clings, mini Bob stand ups and some gift items. Other benefits of Coop membership include special discount programs and networking opportunities.

JOIN AND REAP THE BENEFITS

Any credit union can join the Ad Coop. Dues are based on a fair share, voluntary contribution.

Call Sharon Dilling at 609.448.2426 x 110 or send email to: sdilling@njcul.org for more information or to join the Advertising Cooperative.

2. 72nd Annual Meeting and Convention
It’s our last year at Bally’s … and you won’t want to miss this year’s Annual Meeting & Convention featuring 20 great ed sessions, and a special opening session by US Olympic Hero, Mike Eruzione. We’ve even added a new closing session that will feature Steve Ford, actor and son of US President Gerald R. Ford. Hotel registrations are open. Download your registration book and forms now.

Do you know a vendor that may want to exhibit in our world class exhibit hall? Vendors looking to have access to more than 800 credit union professionals won’t want to miss this great opportunity. Call Yvette Segarra at 609.448.2426 x103 or email ysegarra@njcul.org. Space is going fast, so don’t delay!

3. On-the-Hill
Congress has returned from its summer recess. Earlier this week we Hiked-the Hill to communicate our opposition to the expanded business lending powers for thrifts in the US House’s proffer on Regulatory Relief and support for the Senate’s narrower language. No further action on CURIA despite the more than 120 Co-Sponsors or Data Security is anticipated for the balance of the 109th Congress. Call Chris Abeel, Director of Government Affairs, at 609.448.2426 x127 or email cabeel@njcul.org for more info.

4. Under-the-Dome
Property tax reform continues to dominate the halls of Trenton. The Joint Committee on Constitutional Reform and Citizens Property Tax Convention reconvenes this week to further consider potential options for relief from the Nation’s highest property taxes. One troubling proposal could result in a dramatic increase -- some estimate as much as 40 percent -- in taxes on commercial properties. Currently the “fairness” clause of the state constitution protects property owners from tax discrimination by requiring local governments to tax all property within a municipality at the same rate. Repealing the “fairness” clause in all probability would simply shift the property tax burden to businesses. In the absence of spending cuts and real government reform, property taxes will continue to rise at an alarming rate and further wreak havoc with New Jersey’s already fragile economy. Call Chris Abeel, Director of Government Affairs, at 609.448.2426 x127 or email cabeel@njcul.org for more info.

5. CU’s Beat-back Bank Attack!
The National Conference of State Legislatures (NCSL), the leading national policy group of state legislators from around the country, renewed without amendment its long-standing policy on the dual chartering of credit unions at its 2006 annual meeting. Before the vote in the General Assembly, banking groups attacked the policy in the Financial Services Committee. Utah State Representative David Clark, a banker by profession, pushed an amendment that challenged the tax-exempt status of credit unions. The combined effort of CUNA and several Leagues including NJCUL resulted in the amendment’s defeat by a vote of 18-4. The committee approved renewal of the policy without change and it was posted to the consent calendar for favorable General Assembly action. The policy will not be subject to review for three-years under NCSL by-laws. Call Chris Abeel, Director of Government Affairs, at 609.448.2426 x127 or email cabeel@njcul.org for more info.

6. Calls-to-Action
We have asked NJCUL affiliates to contact members of New Jersey’s Congressional delegation to communicate credit union movement opposition to the expanded business lending powers for thrifts in the US House’s proffer on Regulatory Relief and support for the Senate’s narrower language. We have also asked NJCUL affiliates to contact members of the NJ Legislature’s Joint Committee on Constitutional Reform and Citizens Property Tax Convention to communicate credit union movement opposition to repeal of the “fairness” clause of the state constitution, that protects property owners from tax discrimination by requiring local governments to tax all property within a municipality at the same rate.

For information on how to participate in these and other grassroots efforts call Chris Abeel, Director of Government Affairs, at 609.448.2426 x127 or email cabeel@njcul.org for more info.

7. Legal Ease
Each month, there is a report to the NJCUL Board of Directors by the Board’s Counsel, Stephen J. Edwards, Esq. The topics for August 2006 include:

Insurance Company Settlements On Auto Loans
Executor vs. Joint Owner
Pod and Trust Account Beneficiaries

Click here to read the entire report.

8. Jobs, Jobs and More Jobs
Looking to fill a position? Searching for the next challenge in your career? Don’t forget NJCUL’s online classifieds. NJCUL member credit unions are invited to post job listings for free. Nonmember postings are accepted at a rate of $25 for a 90-day listing. For a complete listing, visit our Web site’s career section.

9. Training Offered at Multiple Locations
You spoke and we listened. You said we needed to bring training to you and we have! We will continue to bring training to different northern and southern locations in addition to those we’re holding at the League in Central NJ. Look into visiting other credit unions as an opportunity to network and see what other offices are all about. More classes will be coming your way in 2007. Stay tuned! Click here to view the entire Ed Calendar or call Barbara Agin, Director of Education & Training, at 609.448.2426 x111.

10. Using Strategic Planning as a Business Strategy for Your Credit Union
All companies, including credit unions, can do business more effectively and distinguish themselves from the competition, by identifying their core values and their reason for being.

More and more it seems, financial products are becoming a “commodity.” Credit unions need to offer a wider range of products and services to satisfy the needs of their members. These products need to meet or do better than the competition whenever possible. However, as we look around at the banks, brokerage firms, car dealerships, insurance firms, and retailers that have entered the financial arena, we realize that diversity of products and value in service offerings are becoming “the price of admission, not the ticket to success.”

Credit unions that are able to clearly identify their core values and reason for doing business stand a better chance of attracting and retaining members in the future.

The process doesn’t end once core values are established. Even though strategies, products and services, technology, quality standards, and ways of doing business may flex with changes in the environment, the core values and reason for being remain constant. They should serve as the basis for all business decisions impacting the member and guide the alignment of all processes, initiatives, and procedures that the credit union undertakes.

At the base of this thinking is the critical role of strategic planning. During the past several months, the New Jersey Credit Union League has implemented strategic planning for a variety of credit unions. Each has used the planning process to reach decisions on SEG expansion, succession planning, charter change, expanding products and services, strengthening loan programs, evaluating staffing needs, improving training and communications, and more. Board members of each credit union also were given the opportunity to discuss and agree on core values and how they wanted their membership to view the credit union going forward.

In serving as a highly effective means to identify an organization’s core values, goals and strategies, more and more credit unions are viewing strategic planning itself, as an essential business strategy.

To ensure the health, vitality and future growth of your credit union, consider strategic planning as an essential part of your planning and business strategy. It remains one of the best things that a Board can do for its credit union.

NJCUL welcomes the opportunity to discuss strategic planning with you. Please contact James Merrill, Vice President Business Development at
800. 792.8861 x120 or email jmerrill@njcul.org.