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Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
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Cyberattacks and cybersecurity vulnerabilities pose significant risks to the financial system. Because of vulnerabilities within the credit union industry and the broader financial system to potential cyberattacks, cybersecurity is one of the NCUA’s top supervisory priorities and a top-tier risk under the agency’s enterprise risk-management program.

Qualifications for Members of Nominating Committee

97-0238 / February 1997

Subject

Bylaws

Historic Status

Non-historic

February 24, 1997

Steven R. Bisker, Esquire
616 South Washington Street
Alexandria, VA 22314

Re: Qualifications for Members of Nominating Committee

Dear Mr. Bisker:

You have requested a legal opinion on whether members of a federal credit union's (FCU's) nominating committee must be members of the FCU. Article VI, Section 1 of the FCU Bylaws states that "(a)t least 30 days prior to each annual meeting, the executive officer shall appoint a nominating committee of not fewer than three members." (Emphasis added.) We interpret this provision to mean that the individuals appointed to the committee must be FCU members.

Sincerely,

James J. Engel
Deputy General Counsel

GC/MFR:bhs
SSIC 3700
97-0238

Last modified on

11/14/24

Qualifications for Members of Nominating Committee

Footnotes