MAUI, Hi. – Members of Maui Teacher’s FCU were required to elect a new board by special ballot after NCUA ruled that the five-person panel was elected in violation of the credit union’s own bylaws for the past 20 years. NCUA removed all directors of the $17 million credit union and ordered new elections after it found that the chairman of the elections committee did not call for nominations from the floor, as required in the credit union’s bylaws. An official with the credit union would not comment. The chairman of the board did not return a phone call.
Processing Content
