Proposed laws that would allow state-chartered credit unions inTennessee and Washington to compensate board members are movingquickly through their respective state legislatures.

The Tennessee House and Senate unanimously approved legislationThursday that would give state-chartered credit unions the optionto compensate board members.

If signed by Gov. Bill Haslam, the law would require creditunion boards in the Volunteer State to adopt a resolution that thecredit requires expertise among board members for the generalmanagement of the CU's operations.

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