FARMERS BRANCH, Texas (4/12/10)--The Texas Credit Union League’s (TCUL) board of directors in 2012 will undergo significant changes in its make-up, the league said. At Friday’s business meeting, the voting delegates approved restated bylaws effective in 2012; and an amendment to provide for the transition in electing asset category directors for a one-year term in 2011, effective immediately (LoneStar Leaguer
April 8). The recently approved board composition consists of four directors in the asset category of $250 million-plus; four directors in the asset category of $50 million to $250 million, and four directors in the less than $50 million asset category. The current board composition consists of 10 directors in the asset categories of $100 million to $250 million and $250 million-plus; five directors in the asset category of $50 million to $100 million; three directors in the asset category of $20 million to $50 million; two directors in the asset category of $10 million to $20 million; and one director in the up to $10 million asset category. Prior to voting, Randy Smith, president/CEO of Randolph-Brooks FCU, Universal City, and chair of the league’s Corporate Governance Task Force, indicated the task force determined:
* The league board structure could be reduced; * Current technology enhances communications among credit unions; * Asset categories are the best way for credit unions to be represented on the board; * Geographic representation should be built into the structure; there is value in credit unions being represented like credit unions with some geographic relationship, and * With a smaller board, expenses could be reduced from league dues by as much as $50,000 a year.