WASHINGTON (2/2/15)--Members of the Credit Union National Association approved a bylaw amendment that recognizes that leagues may choose to accept as members, credit unions whose principal corporate offices are outside of the league's geographic region.
The bylaws now recognize that the state credit union leagues may have member credit unions that have a significant presence--but not their principal corporate office--in a league's geographic region. Some of these credit unions have an interest in participating and engaging in all of the states in which they have such a presence.
A "significant presence" in a league's geographic region is currently defined as a credit union having a physical branch and 5,000 members, or if no physical branch, 10,000 members representing at least 10% of the credit union's membership in that region.
This bylaw change means that in addition to belonging to the league where its principal office is located, a credit union with a significant presence in another league's geographical area could, if it wishes, also join that league if the league has chosen to accept such members.
The board of the Association of American Credit Union Leagues previously approved the multi-league dues program to provide a uniform approach and access for credit unions interested in membership in multiple leagues.
On Dec. 22, 2014, CUNA sent a proposed bylaw amendment to its members for approval. Voting was completed Jan. 26, and members approved the proposed bylaw provision by 96%.