Bankowość i finanse · 17.11.1994

Corporate Credit Unions

NCUA is amending its regulations governing corporate credit unions to reduce the close ties between many corporate credit unions and credit union trade associations. The final rule requires that at least a majority of a corporate credit union's directors, including the chair, be representatives of member credit unions. The rule provides that a majority of a corporate credit union's directors may not be individuals who also serve as officers, directors, or employees of the same trade association or affiliated trade associations. The rule requires that the chief executive officer of a corporate credit union answer solely to the board of directors and not also serve as an employee of a trade association. While the rule imposes these and other requirements to ensure corporate credit union governance is controlled by member credit unions, substantial revisions from the Board's earlier proposed rule have been made to address concerns raised by commenters.