L E A G U E O F S O U T H E A S T E R N C R E D I T U N I O N S , I N C .
Dues Waivers Policy/Procedure Any credit union who wishes to request a waiver of their dues shall submit the request in writing to the President’s office with such request stating the reason for requesting the dues waiver and the amount (either full or partial) of the dues waiver. The President’s office shall review the request and review the financials of the credit union requesting the waiver and may grant, deny or modify the request. A credit union may appeal the decision of the President to the Board at a regularly scheduled Board meeting by providing written notice within 15 days of the President’s decision. The President will provide a report to the Board detailing the action taken on each dues waiver request. Items to be considered in the decision to grant, deny, or modify the request shall include, but are not limited to the following: 1. 2. 3. 4. 5. 6.
History of involvement in League functions; Support of CUPAC/CULAC; CEO’s service to the industry; History of Chapter Involvement Current Economic situation; Credit Union Financials including, but not limited to, the following: • Credit Union Net Worth; • Delinquent Loans to Loans Ratio; • Net Charge Offs to Average Loans; • Return on Average Assets; • Total Assets; and • Net Income 7. History of Dues Waivers; (Approved 10.30.2009)
Published on Sep 13, 2011