Thursday, March 12, 2015

Oregon Bill Would Allow Directors to Be Paid

The movement to pay credit union directors continues to move forward at the state level.

Oregon is the latest state to introduce a bill (SB 582) that would permit a credit union to pay directors and supervisory committee members reasonable compensation for directors’ or committee members’ services.

In 2013, Tennessee and Washington enacted legislation allowing credit unions in those states to pay their directors.

In addition, SB 582 would remove the requirement to open a share account as a condition of membership. I will comment more on this part of the bill at a later date.

Read the analysis of the bill.

Read SB 582.

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