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Treading Softly NCUA Starting to Look at How to Handle Bylaws

NCUA is considering how it might be able to have a say in some of the bylaw disputes that have begun to crop up between credit unions and their members. NCUA Board Chairman JoAnn Johnson alluded to the interest in the topic during her remarks at a recent meeting of...

By David Morrison | Updated on January 30, 2007

ALEXANDRIA Va. — NCUA is considering how it might be able to have a say in some of the bylaw disputes that have begun to crop up between credit unions and their members. NCUA Board Chairman JoAnn Johnson alluded to the interest in the topic during her remarks at a recent meeting of the American Association of Credit Union Leagues and in a later statement said she had directed NCUA staff to conduct a “top to bottom” review of how members relate to the CUs and whether there needs to be a stronger NCUA role in guaranteeing credit unions abide by their bylaws. “The continually evolving debate over credit union conversions, and the nature of member requests pertaining to credit union governance and records, have prompted me to direct Agency staff to conduct a review of the mechanism for resolving federal credit union bylaw disputes,” Johnson said in a statement the agency released on Jan. 22. “Specifically, I want a top to bottom assessment of the standards and practices through which a member relates to their credit union, and recommendations for possible changes in their enforceability.”

Credit union members who have been involved in some bitter fights with their credit unions, particularly members of the $768 million Columbia Community Credit Union and the $1.7 billion DFCU Financial, have complained that when their credit unions have appeared to abandon their bylaws the only place they have had to go for redress has been federal or state court.

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