ALEXANDRIA, VA — NCUA has sent a supervisory letter which alerts both federal credit unions and NCUA examiners as to the details of moving the federal bylaws into its regulations.
The letter does not break any new ground but spells out that the agency will only get involved in bylaw disputes between credit unions and their members which touch on six very specific areas, including matters related to annual and special meetings and petitioning to remove members of boards of directors.
The letter also emphasizes that the regulation allows NCUA's Regional Directors to review disputes in the six areas and possibly intervene, but it does not require that they do so. It also emphasized that examiners will only inquire into a credit union's administration of its bylaws when the CU's leadership raises an issue about it, the agency said.
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