New Jersey Bankers Association

“The executive committee shall consist of the chairman of the board, the two (2) vice chairman of the board, the immediate past chairman of the board and three (3) other members of the board of directors designated by the chairman and approved by a majority of the entire board, one (1) of whom shall be a director representing the class e members on the board of directors. The chairman of the board shall serve as chairman of the executive committee. The executive committee shall have and may exercise such authority of the board as approved in a resolution adopted by majority of the entire board, other than amending bylaws, electing and appointing directors and officers, amending or repealing board resolutions, and submitting actions to members for approval.”

“Robert Rey and Jane Rey share a family relationship.”

“The membership of njbankers shall consist of three (3) classifications of members: (1) regular members, (2) associate members, and (3) financial services members. Subject to the approval of the regular members of njbankers, the board of directors may, from time to time, establish such additional classifications of membership and such membership qualifications for each classifications of membership as it deems necessary. Each regular member, in good standing, shall have all of the rights, privileges, and duties prescribed by these by-laws and defined by the board of directors and such other rights and privileges as the board of directors may from time to time establish by resolution. Each associate member, in good standing, shall have all of the rights, privileges and duties prescribed by the by-laws and defined by the board of directors and such other rights and privileges as the board of directors may, from time to time, establish by resolution except for the right to vote, hold office or serve on the board of directors, or otherwise determine the policy and administration of njbankers. An associate member may except as herein otherwise provided serve on any committee of njbankers not having or exercising any authority of the board of directors. Each finacial services member, in good standing, shall have all of the rights, privileges and duties prescribed by the by-laws and defined by the board of directors and such other rights and privileges as the board of directors may, from time to time, establish by resolution except for the right to vote, hold office or serve on the board of directors, or otherwise determine the policy and administration of njbankers. A financial services member may except as herein otherwise provided serve on any committee of njbankers not having or exercising any authority of the board of directors.”

“Member classification: the membership of njbankers shall consist of three (3) classifications of members: (1) regular members, (2) associate members, and (3) financial services members. Subject to the approval of the regular members of njbankers, the board of directors may, from time to time, establish such additional classifications of membership and such membership qualifications for each classifications of membership as it deems necessary. Regular members: regular members shall consist of any institution, after successful completeion of the regular members admission process as described in section 2 of this article, having its principal place of business in the state of new jersey or having one or more offices in the state of new jersey, which term shall mean and include: state or federally chartered savings and loan associations, savings banks and commerical banks. In the case of a holding company which owns two or more institutions that would each qualify as regular members, the regular member for voting purposes will be the holding company and dues will be based upon new jersey-based deposits. Each regular member, in good standing, shall have all of the rights, privileges, and duties prescribed by these by-laws and defined by the board of directors and such other rights and privileges as the board of directors may from time to time establish by resolution. Associate members, in good standing, shall have all of the rights, privileges, and duties prescribed by these by-laws and defined by the board of directors and such other rights and privileges as the board of directors may from time to time establish by resolution. Associate members: any person, partnership, corporation, or subsidiary, division or unit thereof (other than a credit union), engaged in providing regular members of njbankers with goods or services, or both, or providing regular members a means for complying with community reinvestment act or other regulatory requirements, or any clients of bankers cooperative group, inc., shall, after meeting such membership qualifications as may be established by the board of directors from time to time for such membership classification as described in section 2 of this article, be eligible for membership as an associate member of njbankers. Each associate member, in good standing, shall have all of the rights, privileges and duties prescribed by the by-laws and defined by the board of directors and such other rights and privileges as the board of directors may, from time to time, establish by resolution except for the right to vote, hold office or serve on the board of directors, or otherwise determine the policy and administration of njbankers. An associate member may except as herein otherwise provided serve on any committee of njbankers not having or exercising any authority of the board of directors. Financial services members: all applications for financial services membership in njbankers shall be made in writing in a form required by the board of directors, shall be signed by the applicant and shall contain and/or be accompanied by such information as the board of directors shall from time to time require. After such application is submitted and deemed to be complete and properly made, it shall be submitted to the board of directors at its next regularly scheduled meeting and, if such application is approved, the applicant shall be admitted as a financial services member of njbankers. Each finacial services member, in good standing, shall have all of the rights, privileges and duties prescribed by the by-laws and defined by the board of directors and such other rights and privileges as the board of directors may, from time to time, establish by resolution except for the right to vote, hold office or serve on the board of directors, or otherwise determine the policy and administration of njbankers. A financial services member may except as herein otherwise provided serve on any committee of njbankers not having or”

“Form 990 is reviewed by the president and vp of finance. Any questions or comments on the form 990 are discussed with the tax preparer. A complete copy of the form 990 is uploaded to a shared portal for the board review prior to filing with the irs.”

“The board of directors regularly and consistently monitors and enforces compliance with the conflict of interest. A copy of the policy is given to each officer and board member annually in september and each officer and board member is required to notify the board of directors of any conflicts. Potential or actual conflicts identified are considered on a case by case basis and could result in recusal from voting.”

“The president's compensation is discussed, reviewed, and approved by the executive committee of the board of directors. The determination incorporated summary information from two 2019 salary survey reports conducted by 3rd parties, one of which included data from 34 state banking associations and the other from data from 22 financial instiutions. Compensation from three other leading state trade associations was also included. The review was last completed in june 2021.”

“One executive vice president and one senior vice president's compensation is discussed, reviewed, and approved by the executive committee of the board of directors. The compensation for the other officers is determined by the respective supervisor within the budget guidelines which are approved by the board of directors. Data from the 2015 state bankers association compensation & benefits survey was used in the determination of other officer positions.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The new jersey bankers association is an advocate for the new jersey banking industry. Its primary mission is to represent its memberships' interests before state and federal government and regulatory authorities. In addition, nj bankers provides its members with services and support in public and media relations, education and employee health insurance benefit programs and in meeting community reinvestment act regulations.”