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BOARD PAY: THE CEO'S PERSPECTIVE
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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MCWATTERS DISSENTS ON BUDGET VOTE updated 11/22/14 06:37 AM
Also, Revised RBC Rule Coming
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters was the only one to vote “no” on the board’s 2015 proposed budget, which will increase 4.2 percent over last year. The vote was 2 to 1.

ANNUAL FED WEBINAR ON REGS, GUIDANCE updated 11/21/14 10:32 AM
Also, FinCEN Issues Advisories
Senior staff at the Federal Reserve will host an annual webinar to provide a recap of recent regulatory changes and highlight various inter-agency guidance. The webinar will also discuss current hot topics in the financial services industry and give a glimpse of future regulatory changes.

NEW EMPLOYMENT LAWS FOR 2015 updated 11/21/14 04:33 PM
Also, TIPs Bulletin Posted
The California Chamber of Commerce has released a list of new employment laws scheduled to take effect in 2015 or earlier that will have an impact on businesses in California.

DIANA DYKSTRA RECEIVES 'EAGLE AWARD' updated 11/20/14 10:41 AM
Outstanding Record of Achievement
Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, was presented with the American Association of Credit Union Leagues’ highest honor—the Eagle Award—this week during AACUL’s winter meeting in Hawaii.