WASHINGTON – Credit unions in New Jersey would be allowed to accept deposits from cities and townships, if the No. 2 Democrat in the state Senate gets his way.
Senate Majority Leader Steve Sweeney introduced a measure last week, which lawmakers could consider when they reconvene next year. A companion measure was introduced by Assemblyman Fred Scalera.
"It would be good for credit unions and local governments if there is competition," said Paul Gentile, president and CEO of the New Jersey Credit Union League.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
