CUNA said Monday it expects to distribute ballots and information next week on the proposed bylaw changes that could eliminate the dual membership requirement.
Other proposed changes on the ballot would allow the board of directors to address CUNA's dues formula and modify the board structure and governance.
The CUNA board of directors voted Monday to present what it called the "bylaw restatement" to membership for review and a vote.
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"It is our intention that next week, the restated bylaws, the current bylaws and a summary of the restatement will be provided to all CUNA member credit unions and leagues along with the official notice/ballot for the membership vote," Susan Striefel, CUNA's board chair and president/CEO of the $96.7 million Woodstone Credit Union in Federal Way, Wash., wrote in a Monday letter to CUNA members.
Members will receive these materials in both paper and electronic format and can cast their votes in either manner.
The voting process will open once materials are distributed next week and will conclude in mid-March. Specific dates will be sent out with the voting materials, Striefel wrote. The results of the vote, which is being handled by an independent voting firm, will be announced shortly after the voting window closes.
If the restated bylaws are approved by CUNA member credit unions and leagues, the changes will be implemented in 2017.
Because the voting period spans the dates of the 2016 CUNA Governmental Affairs Conference from Feb. 21 to 25, members will have opportunities to discuss the proposed bylaw changes with senior CUNA staff.
"As a member-driven organization, your participation in this matter is vital," Striefel wrote in the letter. "Our operating principles are based on a one member, one vote structure. The restated bylaws reflect a changing marketplace in which leagues and credit unions are moving in various ways with regard to membership optionality as well as address our dues formula for all credit unions. I hope you'll let your voice and vote be heard on this matter."
Striefel also wrote that the CUNA board is recommending members vote "yes" to approve the adoption of the bylaw changes.
The proposed bylaw changes come after a months-long national debate about the dual membership requirement.
The CUNA board rejected the membership choice recommendation by the CUNA Structure and Governance Task Force in September to give credit unions membership choice in CUNA and/or a league.
That decision sparked an industry-wide firestorm and led the boards of directors of four leagues – the Michigan Credit Union League, the League of Southeastern Credit Unions, the Ohio Credit Union League and the Carolinas Credit Union League – to offer their members choice to join their leagues without requiring CUNA membership.
The Virginia Credit Union League board of directors voted to give their credit union members membership choice in their state league and/or CUNA.
However, eight leagues issued statements in support of the dual membership. They were the Utah Credit Union Association, the Wisconsin Credit Union League, the Cornerstone Credit Union League, the Mountain West Credit Union Association, the Northwest Credit Union Association, the Maine Credit Union League, the Credit Union Association of New Mexico and the Credit Union Association of the Dakotas.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
