Press Releases/Community Involvement

• Credit Union of NJ and Ewing Public Education Foundation Partner
• Credit Union of NJ and Nassau Federal Credit Union Propose Merger

Credit Union of NJ and Ewing Public Education Foundation Partner

Ewing, NJ - Credit Union of New Jersey (CUNJ) and the Ewing Public Education Foundation (EPEF) have partnered together to fund education initiatives in Ewing Township.

The EPEF is an independent, non-profit citizens' organization dedicated to innovative educational experiences for students and the community of Ewing Township. Their mission is to mobilize community support, concern, commitment and resources to help improve the quality of education in Ewing Township.

Anyone who lives, works, worships or attends school in Ewing Township can do their banking at Credit Union of New Jersey. CUNJ has 35,000 members, $225 million in assets and 93 employees. Each of Credit Union of New Jersey's 5 branch locations now accepts donations for the EPEF.

President of the Foundation, Wayne Staub states, "This partnership is an excellent example of how two different organizations can work together to meet their respective missions while also benefiting the community at large. Creatively matching corporate giving needs and the needs of the Ewing Public Schools is our fundraising strategy. We can not thank the Credit Union of New Jersey enough for giving us this opportunity and also for their continued support of EPEF and the entire Ewing Community."

"Financial education is a critical component of today's curriculum," states Andrew L. Jaeger, President/CEO of CUNJ. He continues, "By partnering with the Ewing Public Education Foundation, we can bring financial education to more Ewing Township students and residents, thereby improving their lives financially." ###

Credit Union of NJ and Nassau Federal Credit Union Propose Merger

Ewing, NJ/Princeton, NJ - Credit Union of New Jersey and Nassau Federal Credit Union have announced plans to merge pending approval from credit union members and regulators.

Nassau Federal Credit Union with 1,800 members, $10 million in assets and 4 employees is the credit union for and located at the international nonprofit company, Educational Testing Service (ETS). Credit Union of New Jersey with over 35,000 members, $225 million in assets and 93 employees serves employees of the State of New Jersey and Mercer County, employees of Mercer County Regional Chamber of Commerce member businesses, residents and businesses of Ewing Township, residents of the City of Trenton and Burlington County residing in underserved areas and over 100 employer groups.

"This merger proposal is based solely on the ability to offer better value for all members," states Nassau Federal Credit Union Board President, Jeri Bogan-Zielinski. She continues, "We're combining two strong credit unions and creating an even stronger credit union that will enable all of the members to receive the best financial opportunities possible."

President and CEO of Credit Union of New Jersey, Andrew L. Jaeger adds, "Our goal is to provide our combined membership with the very best in service, rates and convenience. This merger will provide us with the opportunities to achieve these standards of excellence."

The merger completion is scheduled for May, 2008. Credit Union of New Jersey will be the continuing credit union. There will be no lay-offs of any NFCU Employees. The combined credit union will have $235 million in assets and serve nearly 37,000 members.
The combined credit union will allow credit union members to receive enhanced benefits due to economies of scale. In addition, members will receive access to new products and services and extremely competitive rates that the individual credit unions might not have been able to offer separately. ###