Removing Barriers Blog

Legislatures in New Hampshire and Oregon Pass Credit Union Act Updates
Posted June 08,2015 by CUNA Advocacy

After passing the state legislatures last week, updates to the New Hampshire and Oregon credit union acts are currently awaiting governors’ signatures.  In New Hampshire S 188, clarifies and modernizes the application procedure for establishing a new credit union; provides more advantageous parity provisions; establishes new standards for directors and officers; and creates new articles on meetings, branching, and mergers. The Oregon legislation, S 582, permits director compensation, removes the membership share requirement for state chartered credit unions and removes the requirement that the regulator approve new branches.  Both measures were championed by their respective leagues, the Cooperative Credit Union Association and the Northwest Credit Union Association.