Colorado and Arizona recently joined the growing number ofstates that allow state charted credit unions the option ofcompensating board members.

Even though paying directors remains controversial because itconflicts with the cooperative principle of volunteer directors,some credit union CEOs seemed to be more accepting of at leastgiving credit unions the choice to pay directors, especially smalland midsize credit unions that are struggling to find qualifiedboard members.

However, other CEOs contended it's time to offer compensationbecause the increasing complexity of the credit union industrydemands more time, attention and work from directors, and it mayeven help improve board performance.

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