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The House passed the CUNA-League-led Credit Union Board Modernization Act Monday night. The bill—introduced last week by Reps. Juan Vargas, D-Calif., and Bill Huizenga, R-Mich.—would allow federal credit union boards to meet at minimum six times per year instead of the current once per month.
“Thank you to the House members for taking up and voting to advance this bipartisan, common-sense legislation that would help free up credit union time and resources to focus on members and their needs,” said CUNA President/CEO Jim Nussle. “CUNA, Leagues, and credit unions also thank Reps. Vargas and Huizenga for moving quickly to introduce this bill in the new Congress, and we look forward to further engagement with the Senate to get this bill across the finish line.”
CUNA wrote to House leadership Monday prior to the vote calling urging members of the House to vote in favor of the bill.