The Credit Union National Association (CUNA) is requesting that Congress permit federal credit unions to reimburse credit union board volunteers for wages they otherwise forfeit by participating in credit union affairs.
CUNA stated that permitting "credit unions to reimburse directors for lost wages resulting from carrying out their board duties would help encourage interest and involvement in credit union boards of directors. Whether or not a volunteer attends a meeting or training session is sometimes determined by whether or not the director will have to miss work and not be paid."
Reimbursing board members for lost wages is the same as paying board members. Once paid, they would no longer be volunteers.
According to my American Heritage College Dictionary, "to volunteer" means to do helpful work without pay.
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Mr. Leggett,
ReplyDeleteAs a relatively new "volunteer" and working everyday in my "day job" I find the credit unions to be tone deaf to how they sound and without merit.
Appreciate your blog.
Credit unions want a seat at the big boy table, everything the banks have but not to be taxed.
Note that I am a CEO at a large CU and this brings me to think we could advertise the following:
ReplyDeleteWanted: the best, brightest and most dedicated board members who love the credit union - that money can buy.
speaking of tone deaf.
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