Credit Union Exam Solutions Presents With Flying Colors #125 JT Blau Of The Virginia League: Deep Dive On Member Expulsion
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In today's discussion, JT Blau from the Virginia Credit Union League brings attention to the recently enacted NCUA Member Expulsion Rule. He uncovers its implications for credit unions and members alike. JT begins by explaining the different types of member behaviors that could result in expulsion. As the conversation progresses, JT shares expert advice on how credit unions can approach this groundbreaking rule. He discusses the crucial first steps, including updating bylaws and developing comprehensive policies and procedures. JT's expertise shines as he highlights the importance of consistent documentation, fair treatment, and the alignment of existing policies with the new rule. Don't miss out on this eye-opening discussion that may well shape the future of your credit union. Tune in now!
JT answers these questions and more:
● What type of member behavior makes them subject to expulsion in this method?
● What are the required notices that need to be sent out?
● What are the procedures for the hearing, the member vote, and the request for reinstatement if the member makes one?
● If my credit union wants to do this, what do we need to do first (bylaws amendments, policy and procedures)?