Tennessee Gov. Bill Haslam this week signed a bill into law that provides state-chartered credit unions with the option to compensate their board members.
Tennessee has become the 10th state to break from the long-standing practice of only permitting volunteer board members to oversee credit unions. The Tennessee law was not controversial as it took less than two months to wend its way through the state's legislative process.
Meanwhile, Washington may become the 11th to also break from the long-held credit union tradition of board volunteers.
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