Bent on nurturing greater member involvement in its growth, Unitus Community Credit Union in Oregon confirmed Friday it has reached a new threshold in developing term limits for directors.
Under the new schedule, Unitus directors are limited to four, three-year terms—or 12 years on the board.
The $836 million Portland CU said the new procedure drafted "in a methodical and deliberate process well received by the members of the board" took formal effect last month at the CU's annual meeting, at which two incumbents agreed to retire.
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