Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Oregon CU Act Improvement Bill Sent To Governor
SALEM, Ore. (6/18/13)--A bill to update the Oregon Credit Union Act passed in the state House Wednesday. The Northwest Credit Union Association backed the bill.

The bill passed with 59 "yes" votes and one "excused" vote (Anthem Recap June 13).

Recommendations by NWCUA's Oregon State Model Act Subcommittee resulted in the legislation. The subcommittee is chaired by Scott Burgess, president/CEO of the $569 million asset Rivermark Community CU, Beaverton, Ore.

The bill will:

  • Broaden Oregon's parity authority by allowing the state's credit unions to invoke parity with out-of-state credit unions and streamline the process for invoking parity with federally chartered credit unions;
  • Clarify the role of the supervisory committee in governance-related matters;
  • Extend additional liability protection to credit union directors and officers;
  • Remove wording in the state law that requires the board to "perform other duties as the members of the credit union from time to time direct and perform or authorize any action not inconsistent with this chapter and not specifically reserved by the bylaws for the members";
  • Remove duplicative and unnecessary language in Oregon law that permits a credit union to employ a chief operating officer/president and a security officer; and
  • Make the declaring of dividends a power that can be delegated under Oregon law.
RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago