Bottom Lines: New Jersey credit unions want to take municipal deposits
04.07.10
A bill is advancing in the state Legislature that would let
credit unions compete with banks for the deposits of local
government entities.
The state Senate in June passed the amendment to the
Governmental Unit Depository Protection Act, which was enacted 40
years ago before credit union deposits became government
insured.
The New Jersey Credit Union League, which represents 211 credit
unions owned by 1.1 million members, sees several public benefits
to allowing credit unions accept deposits from local
government.
Paul Gentile, president and CEO of the Credit Union League, said
diversifying deposits to credit unions from banks alone would
reduce risk.
"If we've learned anything from the economic meltdown, it's that
you don't want to have all of your eggs in one basket," Gentile
said last week.
Local government entities would benefit in two ways, he
said.
First, credit unions are more likely to make deposited funds
available to local businesses and consumers. While banks reduced
business lending by 15 percent in 2009, credit unions increased
small-business lending by 11 percent last year, the credit union
league said.
The Benefits of No Deposit Car Insurance | Online Insurance Quotes
Have you ever faced the difficulty of having to pay car insurance , but not having the required deposit upfront? You need not worry about the difficulty anymore. There is tough competition among insurance companies, and this competition has resulted in car insurance companies providing several options to their clients. One of the main advantages is that the insurance companies can now provide insurance without deposits to its customers.
The reason why you normally have to pay a deposit to obtain insurance is that, insurance is a contract, and any contract involves some deposit with which you need to start. In no deposit car insurance policies, any payment you make to the insurance company is divided into 12 months or on the basis of a particular denomination followed by the specific insurance company. So, you can pay the insurance amount as monthly fees, and there is no upfront deposit involved in the scheme. This means, you can start availing the insurance services by paying just a fraction of your total insurance cost.
No-deposit insurance scheme is particularly useful for people who face a restrain in arranging finances to pay insurance amount upfront. Sometimes, you may see that it is easier to pay the amount in installments, rather than give the whole amount at one go.
Another category who can make use of no deposit car insurance scheme is students. Most students may find it difficult to pay the entire insurance amount at once. They can make use of this facility to pay in small installments.
But, you should not forget that insurance involves a lot of risk in it and your insurance premium is based on the number of warranty claims that you make. This means, if you make a big number of claims, the amount that you might have to pay as premium will be high too.
This no deposit insurance scheme is so popular these days that there are a large number of companies that support it and have similar schemes for its customers. In other words, no deposit insurance schemes have made car insurance affordable to everybody.
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table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNHv9TlatqNtBU_0Cu7S_CqCOrsA6Qamp;url=http://www2.counton2.com/news/2010/aug/13/my-news-2-prepare-your-money-matters-emergency-ar-703443/bMy News 2: Prepare your money matters for an emergency/b/abr /font size=-1bfont color=#6f6f6fWCBD/font/b/fontbr /font size=-1Place your life insurance policies in a file titled “life insurance” and place your homeowner#39;s, umbrella, and bcar insurance/b policies in a file named b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=dIVhHTpS4tUVHaMnobrb/b/nobr/a/font/div/font/td/tr/table
