It may be common–and it certainly is permitted under NCUA rules–but debates are beginning to be heard among some credit union experts when it comes to credit union employees (frequently the CEO) serving on the board of directors as treasurer.
Catholic Federal Credit Union, Saginaw, Mich., lost its longest serving volunteer when Donald Gallant passed away Aug. 19. Gallant served on Catholic Federal’s board of directors from Nov. 7, 1969 until his death. He served as chairman, vice-chairman, treasurer and secretary. For all of his years of volunteer service, the...