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updated 09/09/13 01:41 PM
Six CU Leaders Weigh In
Should state-chartered credit unions in California and Nevada be expressly permitted to compensate board members?

Such a question wouldn’t have been taken seriously several years ago, but times have changed.

With the addition of Washington this year, 10 states now allow state-chartered credit unions the authority to pay board members to varying degrees, depending on the state’s provisions, according to the National Association of State Credit Union Supervisors (NASCUS). Some credit unions participate while others do not.

So why the change? The volunteer role of “board director” at both state and federally chartered credit unions has evolved from basic overseer into something more elaborate as credit unions conform to new regulations, according to interviews with several CEOs. Some credit unions are also concerned they’ll have a harder time attracting new board members in the future.

“Regulatory expectations for credit union boards continue to increase as credit union operations grow in complexity,” said Mary Martha Fortney, president and CEO of NASCUS. “However, the issue of whether credit unions should compensate directors is one which the credit union system has not reached consensus.”

The editors of Credit Union Digest asked six state-chartered credit union CEOs for their opinion.

Click here to explore their individual perspectives on Pages 6-7 in the October/November edition of Credit Union Digest!

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WCMS HONORS 2014 GRADUATING CLASS updated 07/29/14 09:58 AM
Weidler Receives 'Highest Honors'
Nearly 90 students from the “Mu” Class proudly received their Western CUNA Management School (WCMS) diplomas last Thursday night at Pomona College in Claremont, CA, where a lively audience cheered another successful send-off of credit union leaders who are devoted to keeping the credit union philosophy alive.

REGULATORY REACTION: HIT OR MISS updated 07/29/14 09:50 AM
Leaders Discuss the Changing Landscape
The credit union industry’s overwhelming response in sending more than 2,000 letters to the National Credit Union Administration (NCUA) on the agency’s risk-based capital proposal is extremely rare. So what’s different this time around?

'PowerComment' Combats Burdens
PowerComment, a highly-interactive online resource that helps credit unions take their regulatory concerns directly to regulators, was officially announced today during the summer American Association of Credit Union Leagues (AACUL) meeting.

CELEBRATE 100 MILLION MEMBERSHIPS updated 07/24/14 03:42 PM
National Awareness Campaign
The credit union movement is on pace to reach 100 million memberships this summer. To commemorate this milestone, the Credit Union National Association (CUNA) launched the “100 Million Memberships” campaign, and invites all credit unions to participate.