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Committee hears bill to allow state-chartered credit unions to let members vote to pay board members
Summary
A bill that would let members of New Hampshire state‑chartered credit unions vote to authorize compensation for board members drew support from credit union representatives who said modest pay could help recruit and retain directors; sponsors and witnesses stressed the change would be optional, not mandatory.
Senator Dan Innes, representing District 7, introduced Senate Bill 25 to the House Commerce and Consumer Affairs Committee, saying the bill would allow members of state‑chartered credit unions to vote to permit compensation for their elected board members. The bill is enabling legislation that, if enacted, would let each credit union’s membership decide whether to authorize director pay; it would not require any credit union to pay directors.
The bill’s sponsors and witnesses told the committee that today’s governance demands — including cybersecurity, asset‑liability management and other complex oversight duties — are greater than in the past and that modest compensation could help attract and retain qualified directors. “Nothing in this…
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