Lizeth GeorgeYesterday, the House passed the Credit Union Board Governance Modernization Act (H.R. 6889). The bill was cosponsored by numerous members from Alabama, Florida, and Georgia, including Jerry Carl (AL-01), Barry Moore (AL-02), John Rutherford (FL-04), Bill Posey (FL-08), Gus Bilirakis (FL-12), Sanford Bishop (GA-02), Nikema Williams (GA-05), Carolyn Bourdeaux (GA-07), Barry Loudermilk (GA-11), and David Scott (GA-13).
This bill would modify the Federal Credit Union Act requirement that credit union boards meet no less than six times per year (from the current once per month).
LSCU thanks the members of our delegations who supported this legislation which will free up resources and allow credit unions more flexibility when it comes to board meetings.
The bill has a bipartisan Senate companion, introduced in May, which is cosponsored by Senator Tommy Tuberville (R-AL).
