New Jersey

REGULATING AGENCY: New Jersey Department of Banking and Insurance

New Jersey Capitol

LEAGUE: CrossState Credit Union Association

PRIVATE SHARE INSURANCE: No

STATS: (As of June 2021)

Total Number of Credit Unions: 147

  • TOTAL # SCUs: 7
  • TOTAL # FCUs: 140
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 5%

Total Assets: $15,394,148,119

  • TOTAL $ SCU ASSETS: $177,042,346
  • TOTAL $ FCU ASSETS: $15,217,105,773
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 1%

Total Members: 967,164

  • TOTAL Members SCUs: 17,616
  • TOTAL Members FCUs: 949,548
  • SCU % OF TOTAL (SCUS/STATE TOAL): 2%

FUN FACT: Fort Dix is named for Major General John Adams Dix, a veteran of the War of 1812 and the Civil War. During his distinguished public career, he was a United States Senator, Secretary of the Treasury, Minister to France and Governor of New York.


RECENT NEWS

NJ Department of Banking and Insurance Receives Reaccreditation from National Association of Insurance Commissioners and Conference of State Bank Supervisors
Department Has Received Accreditation in Insurance, Banking

August 18, 2021 — Department of Banking and Insurance Commissioner Marlene Caride announced today that the department has received reaccreditation in both insurance and banking, which certifies that the department meets the national standards and practices set by the National Association of Insurance Commissioners and the Conference of State Bank Supervisors.

The National Association of Insurance Commissioners (NAIC) accreditation program reviews state insurance departments every five years to ensure they meet financial solvency oversight standards. The department received the final results of the Accreditation Review for the Insurance Division on Friday, August 13th, with accreditation granted during the NAIC Summer National Meeting. In 2020, the department received accreditation from the Conference of State Bank Supervisors (CSBS) following a comprehensive review of the Banking Division. The CSBS reviews state banking departments every five years.

“The reaccreditation of the department gives consumers and the entities we regulate the confidence that our banking and insurance divisions meet national regulatory standards and have the resources and expertise to carry out the department’s mission,” said Commissioner Caride.

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