OLYMPIA, Wash. State lawmakers were scheduled review a bill Thursday that would, among other things, allow state chartered credit unions to pay volunteer directors and supervisory committee members.
The measure also would allow credit unions to provide directors and supervisory committee members with gifts of nominal value, insurance coverage and certain reimbursements for reasonable expenses incurred on behalf of them or their spouses in carrying out their credit union duties.
The proposal would break new ground as few states allow credit unions to pay directors. Texas has allowed director pay for several years. The bill, which also would allow state charters to raise supplementary capital, was scheduled for a hearing Thursday in the House Business & Financial Services Committee.
A similar bill, absent the supplementary capital provision, has been introduced in the State Senate.
