The industry debate over term limits for directors surfaced anew last week with Unitus Community CU of Portland, Ore. announcing that it has adopted new guidelines to deal with the sensitive matter.
Management of the $836 million Unitus Community CU said its new term limit rules were adopted following methodical and deliberate discussion over at least four years and have been well received by the volunteer members of its board.
Under the new schedule, Unitus directors are limited to four three-year terms and then they must retire.
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