Monday, April 13, 2015

Who Should Pay Associational Dues?

The National Credit Union Administration in its proposed associational common bond rule states that a federal credit union (FCU) "may pay a member’s associational dues if the member has given consent."

However, it seems to me that most, if not all, members would give their consent to an FCU paying their associational dues.

The paying of dues by the member, not the FCU, would show that the member to some degree supports the goals and mission of the association and that they are not just joining the association for the purpose of becoming a member of an FCU.

This payment of dues by the member should be a requirement for fulfilling the totality of the circumstances test for an associational common bond.

1 comment:

  1. Dr. Leggett,
    You still don't get it.
    If a consumer had to pay association dues, we wouldn't be able to cheat so easily on field of membership AND THEN we wouldn't be able to double and triple count "members"!!!!!



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