Sens. Tina Smith (D-Minn.) and Ben Sasse (R-Neb.) introduced a bipartisan bill Monday that would allow a credit union board to expel a member for just cause. CUNA, the Minnesota Credit Union Network and the Nebraska Credit Union League engaged directly with the Senators on the bill, the Credit Union Governance Modernization Act of 2020.

“We thank Sens. Smith and Sasse for their bipartisan bill that would provide and important modernization to the Federal Credit Union Act,” said CUNA President/CEO Jim Nussle. “We look forward to working with them to move this bill forward, and with other legislators on other needed legislation that would bring credit union governance into the 21^st century.”

Modernizing the Federal Credit Union Act is one of CUNA’s main advocacy goals this year, and CUNA and Leagues have worked with legislators on both sides to modernize governance provisions in the bill to increase access to safe and affordable credit union products and services.