Board Long Term Care Insurance
Statute 1761(c) limits compensation for board members. However, federal Credit Unions can offer board members long-term care insurance as a benefit
for service.
Recruiting and retaining skilled board members is just as vital as attracting talented executives. NCUA regulators expect qualified Credit Union members to accept roles as directors. And the responsibilities of directors are constantly increasing, making it essential for Credit Unions to recruit members with an exceptional understanding of financial institutions.
Offering long-term care insurance will help your Credit Union remain competitive in recruiting and retaining qualified board members.
