Credit Union Times - October 1, 2008 - (Page 31) NJCUL Annual Meeting verting to a state charter, based on the league’s proposed changes. Currently, only 17 of New Jersey’s 220 credit unions are state chartered. New Jersey is also populated by a number of smaller credit unions, averaging about $42 million in assets statewide. Thus, the league has created a new small credit union initiative. He emphasized that this is not just a committee or task force, but the league is spending two years with 12 credit unions on strategic planning, working with larger credit union mentors, and repeatedly surveying the membership. The league is assisting with the strategic planning and board training. When asked if the smaller credit unions were concerned about (continued on top of next column) (Continued from previous page) receiving assistance from larger credit unions, Gentile acknowledged that that type of sentiment exists but added that “this isn’t to merge them out of existence.” Along those same lines, the NJCUL Board also approved a restructuring, cutting its 15-member board down to nine, with three representatives from credit unions under $25 million in assets, three above $25 million and three at-large. The NJCUL has also oct steve 9/15/08 10:09 AM Page Tri-8e-331 B C.U.Timesinvested in East Coast Business Lenders, 1 a member business lending CUSO, since Gentile’s tenure in acknowledgement of the 40% increase in business lending at New Jersey credit unions. Gentile concluded that “it feels good to get into the movement” after years of writing about it. Before joining the NJCUL, Gentile had served in a variety of positions of growing responsibility at Credit Union Times, ending his tenure as publisher-editor. —scooke@cutimes.com “My members expect more for their money. So why shouldn’t I ? ” - Steve Swofford, President/CEO, Alabama Credit Union net banking, and shared branching are all in final development. The machines were designed for ease of use and can support up to 16 languages, including English and Spanish as standards. There are many benefits to the credit union in addition to expanded membership opportunities, from the noninterest income gained from advertising on the monitor to the funds made on the back end for phone cards and gift cards. One of these kiosks can also effectively save the credit union money at $49,000 a machine, which can replace 2.5 employees at approximately $163,000, Kash said. Kiosks are also available for lease. Richard Rays, president/ CEO of Paragon FCU, touted the machine as tool for strengthening select employee group relationships. Paragon has Mercedes Benz within his field of membership and he could place one of the kiosks there to better serve those members. He explained that the new eBank unit is the second generation of this machine; currently 25 of the older model are dispersed around the country, and, in addition to the three new ones already deployed, 10 are on order. Rays said in a statement, “Tellagent is helping to level the money-service industry playing field because the Freedom Centre eBank will help to better serve unbanked consumers who have been paying far too much of their hard-earned wages to fee-laden money service businesses.” —scooke@cutimes.com A lot has changed in my 30 years in the credit union movement. But one thing remains the same: our members expect us to save them money. So we’re always on the lookout for ways to help us meet that demand. It’s one of the things that led us to Triton ATMs. With Triton, we just get more for our money. Which allows us to do what we do best: give our members more for their money. Lower-cost loans. Higher dividends on savings. Lower fees on financial products. After all, that’s why our members choose us over big banks in the first place. They expect everything they’d get from our competitors, and more. And that’s precisely what I’ve come to expect from Triton. Discover how Triton’s complete line of cost-effective, reliable ATMs can help your bottom line. Call your Triton representative today at (228) 575-3365, or visit us at www.triton.com to learn more. FT7000 cutimes.com Credit Union Times, October 1, 2008 31 http://www.triton.com http://www.triton.com http://www.cutimes.com
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