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CU System
PCUA directors to be elected by asset classes
HARRISBURG, Pa. (11/16/10)--The Pennsylvania Credit Union Association Board of Directors approved a change in its bylaws during its meeting last week to allow directors to be elected based on asset classes rather than by district. The change will be implemented in 2012. The number of directors will remain at nine, with three elected from credit unions with less than $30 million in assets, three from $30 million to $100 million in assets, and three from credit unions with greater than $100 million in assets (Life is a Highway Nov. 15). The new governance model will be phased in over the course of three years, beginning with the May 2012 election cycle. Also, the board approved a $10,000 contribution to the Pennsylvania Credit Union Foundation: $5,000 from the association, and $5,000 from Pacul Services, Inc.


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