WASHINGTON — New Jersey's credit unions will be more visible inthe halls of power.

The New Jersey Credit Union League is hiring a lobbyist, oncontract, to supplement the efforts of two staff members alreadyworking with government officials. Complementing this effort, theleague recently announced plans to open a satellite office inTrenton, the state capital.

The league's goal is to gather support for modernizing thestate's credit union charter. The charter hasn't been revised in awhile and league President/CEO Paul Gentile said making somemodifications would encourage more of the state's credit unions toapply for a state charter.

“There are only 17 state charters among the 223 credit unions.This is a good opportunity to add more, since the state is lookingfor more revenue, and more state charters means more money,” hesaid in an interview.

Gentile said opening the satellite office, which will be housedin a three-story building constructed in 1897, has been one of histop priorities since becoming president in January.

The league is also keeping its eye on federal policymakers.

On June 23, it honored U.S. Rep. Donald Payne (D-N.J.), as itsCU legislator of the year.

Payne, who has been in office since 1989, is a co-sponsor of theCredit Union Regulatory Improvements Act and has voted for othermeasures important to credit unions. He represents the 10thDistrict, including the city of Newark.

“I am excited that we were able to recognize one of our mostardent supporters in Congress. Congressman Payne has been a friendto New Jersey credit unions. What I admire most about him is thathe truly understands our issues. He understands that while banksare looking to grow and expand, they expect credit unions tooperate under the 1934 model,” Gentile said in a statement.

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Redwood CU Earns SBA Lender Status
SANTA ROSA, Calif. — The Small Business Administration has giventhe green light to Redwood Credit Union to become one of theagency's lenders.

The new designation adds to the $1.8 billion credit union'ssuite of small business services. To help accommodate members,Redwood has hired Jason Ehn as its SBA loan officer. Ehn previouslyserved as vice president of small business lending at TamalpaisBank and has prior lending experience at Summit State Bank andSonoma National Bank, according to the credit union.

“The SBA programs allow us to serve small businesses who mightnot otherwise qualify for traditional loans, so that they can buildtheir businesses and prosper,” said Michael Downey, vice presidentof business services at Redwood.

The credit union serves more than 143,000 members.

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