SALEM, Ore. (FILED 1:55 p.m. CT 6/28/13)--Oregon Gov. John Kitzhaber signed legislation this week that updates the Oregon Credit Union Act, as he acted quickly to acknowledge strong legislative support for the bill, said the Northwest Credit Union Association.
NWCUA backed the bill because of recommendations by the Oregon State Model Act Subcommittee, chaired by Scott Burgess, president/CEO of Rivermark Community CU in Beaverton (NWCUA's The Anthem June 27).
"The sub-committee put a tremendous amount of work and analysis into the legislation signed by the governor, and we're very pleased with the outcome," Burgess told NWCUA. "As the chairman of the sub-committee, I know I speak for the group in saying that we're all particularly proud that, in Oregon, we routinely open up the Credit Union Act to seek out legislative changes that will help credit unions better serve their members in these challenging times."
The updated Oregon Credit Union Act will:
The updates will take effect Jan. 1.