Low angled view of the U.S. Capitol East Facade Front in Washington, DC.

House Passes Credit Union Board Modernization Act

Yesterday, 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).

Written by
Lizeth George
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

Social Channels

Follow us on all major social media platforms.