Credit union trade groups voiced strong support for a proposed NCUA rule that would allow federal credit unions to reimburse board members for dependent care expenses, calling it a long-overdue step toward modernizing governance.
In separate comment letters, both America's Credit Unions and the Defense Credit Union Council (DCUC) endorsed the proposal, arguing it would remove a key barrier to board participation and help attract a broader, more diverse pool of volunteers.
America's Credit Unions said the change reflects the evolving realities of volunteer service, noting that many board members balance professional and family responsibilities. The group emphasized that dependent care costs are often unavoidable when attending meetings or training sessions, or fulfilling official duties, and should be treated as legitimate reimbursable expenses rather than compensation.
The organization also encouraged the NCUA to maintain flexibility in how credit unions define and administer reimbursement policies, cautioning against overly prescriptive rules that could limit adoption.
Similarly, DCUC said the proposal would improve work-life balance for volunteer officials and strengthen credit union governance by enabling institutions to recruit and retain qualified board members. The group highlighted the unique challenges faced by military families and dual-income households, where irregular schedules and caregiving responsibilities can make volunteer service difficult.
Both organizations agreed that reimbursement policies should remain optional and governed at the board level, with appropriate oversight through existing supervisory processes.
If finalized, the rule could mark a significant shift in how credit unions support volunteer leadership, aligning regulatory policy with the practical realities of modern board service while reinforcing safety and soundness across the system.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.