I want to comment on Paul Gentile's column, “Time Has Come to Pay Directors” in the Aug. 8 issue. As one who has served for many years and actively sought to bring in new volunteers I could not agree more that pay for work done by directors of federally chartered CUs should become a reality. Not just compensation for work done, but also for potential financial risk they take in today's litigious environment. When I started several years ago it might have take two hours a month, now it can easily take six to 12 hours per month or more depending on committee structures and a need to learn new rules to help set policy. Here is what a job description looks like for today's credit union directors:

- Duties: Oversee, set policy, and hire CEO for credit union.

- Time requirements: Six to 12 hours per month.

- Skills needed: common sense, business logic, understanding of NCUA rules and regulations, communication skills.

- Fiduciary responsibility for CU assets and management decisions (exposure can be greater then insurance/bond coverage).

- Salary: $0.00.

- Perks: Possibly attend a conference or two per year.

Yes there are some directors who “hang on” for the perk of a trip, however many more hang on because of belief in CUs and an inability to attract new volunteers.

In today's world everyone is busy; time is a luxury many people especially younger CU members with families and careers just starting cannot find. Many working families cannot volunteer at the expense of time from home or work especially if they need to use vacation or comp time to cover the CU time.

The NCUA is behind the curve on the compensation issue for federally chartered institutions, it can in fact negatively impact potential volunteers. At least some state chartered institutions allow for some type of reasonable compensation.

Reasonable compensation in my view will attract a larger volunteer base to select board members from and in many cases would not add much to a CU's bottom line if at the same time conferences at the CUs' expense were eliminated and volunteers needed to use the pay they receive to cover those expenses.

William Rupp

Director

Unity One Federal Credit Union

St. Paul, Minn.