NCUA’s latest Letter to Federal Credit Unions (20-FCU-04) announces that the meeting flexibility measures put in place this year due to the pandemic will remain in place through 2021. CUNA has pushed for the flexibility in several recent meetings with NCUA.
The letter also extends flexibility to regular board meetings, in addition to annual and special meetings.
A federal credit union needs to adopt an Article IV bylaw amendment by a two-thirds board vote to for a credit union to take advantage of the relief measures for virtual annual meetings without an in-person quorum requirement in 2021.
The language for the amendment is provided in NCUA’s letter. It also clarifies Quorum Requirements, Postponements, Elections, Meeting Notices and Member Expulsion.