Status
The Credit Union Governance Modernization Act passed the House on January 30, 2023, and the Credit Union Governance Modernization Act (S.610) was introduced in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs on March 1, 2023.
Our Position
DCUC supports legislation that would aid our members in their efforts to set and enforce standards of behavior for their membership.
Background
This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting.
The expelled member may request reinstatement by the credit union board.
Member conduct that may be cause for expulsion includes:
Resources
Handouts of DCUC's current advocacy priorities are available for download. These handouts include information on each advocacy priority and talking points you can use when contacting your state representatives and senators.
The Credit Union Governance Modernization Act passed the House on January 30, 2023, and the Credit Union Governance Modernization Act (S.610) was introduced in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs on March 1, 2023.
Our Position
DCUC supports legislation that would aid our members in their efforts to set and enforce standards of behavior for their membership.
Background
This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting.
The expelled member may request reinstatement by the credit union board.
Member conduct that may be cause for expulsion includes:
- a loss to the credit union
- a violation of the credit union membership agreement
- a disruption to the operations of a credit union
- fraud or attempted fraud
- other illegal or inappropriate behavior
Resources
Handouts of DCUC's current advocacy priorities are available for download. These handouts include information on each advocacy priority and talking points you can use when contacting your state representatives and senators.