Volunteers Aren't Paid
Regarding the Editor's Column in the Nov. 3 issue, I have always been of the opinion that boards are volunteers and sending them to conferences was both a treat and an education. If they wanted to be paid, they shouldn't volunteer.
But what a Canadian credit union said about paying its board is not comparing apples with apples. Canadian CUs operate under a completely different set of rules and regulations. Better to find a CU here that pays its board and ask them.
And while I'm on it, every time a banker says CUs should be taxed, ask them if they would then require all Subchapter S banks to be opted out of Subchapter S and taxed? They never mention the huge number of these banks.
Tulsa Federal CU