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TABLE OF CONTENTS

Article I. Name - Purposes

Article II. Qualifications for Membership

Article III. Shares of Members

Article IV. Meetings of Members

Article V. Elections

Article VI. Board of Directors

Article VII. Board Officers, Management Officials and Executive Committee

Article VIII. Credit Committee or Loan Officers

Article IX. Supervisory Committee

Article X. Organization Meeting

Article XI. Loans and Lines of Credit to Members

Article XII. Dividends

Article XIII. Deposit of Funds

Article XIV. Expulsion and Withdrawal

Article XV. Minors

Article XVI. General

Article XVII. Amendments of Bylaws and Charter

Article XVIII. Definitions
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BYLAWS

Federal Credit Union, Charter No.________________________

(A corporation chartered under the laws of the United States)

Article I. Name - Purposes

Section 1. The name of this credit union is as stated in section

1 of the charter (approved organization certificate) of this

credit union.

Section 2. The purpose of this credit union is to promote thrift

among its members by affording them an opportunity to accumulate

their savings and to create for them a source of credit for

provident or productive purposes. The credit union may add

business as one of its purposes by placing a comma after

“ provident” and inserting “ business.”

Article II. Qualifications for Membership

Section 1. The field of membership of this credit union is

limited to that stated in section 5 of its charter.

Section 2. Applications for membership from persons eligible for

membership under section 5 of the charter must be signed by the

applicant on forms approved by the board. Upon approval of an

application by a majority of the directors, or a majority of the
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members of a duly authorized executive committee or by a

membership officer, and upon subscription to at least one share

of this credit union and the payment of the initial installment,

and the payment of a uniform entrance fee if required by the

board, the applicant is admitted to membership. If a membership

application is denied, the reasons must be furnished in writing

to the person whose application is denied, upon written request.

Section 3. A member who withdraws all shareholdings or fails to

comply with the time requirements in article III, section 3,

ceases to be a member. By resolution, the board may require

persons readmitted to membership to pay another entrance fee.

Section 4. Once a member becomes a member that person may remain

a member until the person or organization chooses to withdraw or

is expelled in accordance with the Act. A credit union that

wishes to restrict services to members no longer within the field

of membership should specify the restrictions in this section.

Article III. Shares of Members

Section 1. The par value of each share will be $_____.

Subscription to shares are payable at the time of subscription,

or in installments of at least $_____ per month.
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Section 2. The maximum amount of shares that may be held by any

one member will be established from time to time by resolution of

the board.

Section 3. A member who fails to complete payment of one share

within _____ of admission to membership, or within _____ from the

increase in the par value of shares, or a member who reduces the

share balance below the par value of one share and does not

increase the balance to at least the par value of one share

within _____ of the reduction may be terminated from membership.

Section 4. Shares may only be transferred from one member to

another by an instrument in a form as the board may prescribe.

Such transfer will carry dividend credits with it.

Section 5. Money paid in on shares or installments of shares may

be withdrawn as provided in these bylaws or regulation on any day

when payment on shares may be made: provided, however, that

(a) The board has the right, at any time, to require members to

give, in writing, not more than 60 days notice of intention to

withdraw the whole or any part of the amounts paid in by them.

(b) The board may determine that, if shares are paid in under an

accumulated payroll deduction plan as prescribed in the

Accounting Manual for Federal Credit Unions, they may not be

withdrawn until credited to members' accounts.
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(c) No member may withdraw any shareholdings below the amount of

the member’s primary or contingent liability to the credit union

if the member is delinquent as a borrower, or if borrowers for

whom the member is comaker, endorser, or guarantor are

delinquent, without the written approval of the credit committee

or loan officer; except that shares issued in an irrevocable

trust as provided in section 6 of this article are not subject to

restrictions upon withdrawal except as stated in the trust

agreement.

(d) The share account of a deceased member (other than one held

in joint tenancy with

 another member) may be continued until the close of the dividend

period in which the administration of the deceased's estate is

completed, but not to exceed a period of 4 years.

(e) The board will have the right, at any time, to impose a fee

for excessive share withdrawals from regular share accounts. The

number of withdrawals not subject to a fee and the amount of the

fee will be established by board resolution and will be subject

to regulations applicable to the advertising and disclosure of

terms and conditions on member accounts.

Section 6. Shares may be issued in a revocable or irrevocable

trust, subject to the following:
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When shares are issued in a revocable trust, the settlor must be

a member of this credit union in his own right. When shares are

issued in an irrevocable trust, either the settlor or the

beneficiary must be a member of this credit union. The name of

the beneficiary must be stated in both a revocable and

irrevocable trust. For purposes of this section, shares issued

pursuant to a pension plan authorized by the rules and

regulations will be treated as an irrevocable trust unless

otherwise indicated in the rules and regulations.

Section 7. Owners of a joint account may both be members of the

credit union without opening separate accounts. For joint

membership, both owners are required to fulfill all of the

membership requirements including each member purchasing and

maintaining at least one share in the account.

Article IV. Meetings of Members

Section 1. The annual meeting of the members must be held within

the period authorized in the Act, in the county in which any

office of the credit union is located or within a radius of 100

miles of such office, at the time and place as the board

determines and announces in the notice of the annual meeting.

Section 2. At least 30 but no more than 75 days before the date

of any annual meeting or at least 7 days before the date of any
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special meeting of the members, the secretary must give written

notice to each member by in person delivery, or by mailing the

written notice to each member at the address that appears on the

records of this credit union. Notice of the annual meeting may

be given by posting the notice in a conspicuous place in the

office of this credit union where it may be read by the members,

at least 30 days prior to such meeting, if the annual meeting is

to be held during the same month as that of the previous annual

meeting and if this credit union maintains an office that is

readily accessible to members where regular business hours are

maintained. Any meeting of the members, whether annual or

special, may be held without prior notice, at any place or time,

if all the members entitled to vote, who are not present at the

meeting, waive notice in writing, before, during, or after the

meeting.

Notice of any special meeting must state the purpose for which it

is to be held, and no business other than that related to this

purpose may be transacted at the meeting.

Section 3. Special meetings of the members may be called by the

chair or the board of directors upon a majority vote, or by the

supervisory committee as provided in these bylaws, and may be

held at any location permitted for the annual meeting. A special

meeting must be called by the chair within 30 days of the receipt

of a written request of 25 members or 5% of the members as of the

date of the request, whichever number is larger. However, a
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request of no more than 500 members may be required for such

meeting. The notice of a special meeting must be given as

provided in section 2 of this article.

Section 4. The suggested order of business at annual meetings of

members is--

(a) Ascertainment that a quorum is present.

(b) Reading and approval or correction of the minutes of the last

meeting.

(c) Report of directors, if there is one.

(d) Report of the financial officer or the chief management

official.

(e) Report of the credit committee, if there is one.

(f) Report of the supervisory committee.

(g) Unfinished business.

(h) New business other than elections.

(i) Elections.

(j) Adjournment.

The order of business must comply with “ Robert’s Rules of

Order.”

Section 5. Except as otherwise provided, 15 members constitute a

quorum at annual or special meetings. If no quorum is present,

an adjournment may be taken to a date not fewer than 7 nor more

than 14 days thereafter. The members present at any such

adjourned meeting will constitute a quorum, regardless of the

number of members present. The same notice must be given for the
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adjourned meeting as is prescribed in section 2 of this article

for the original meeting, except that such notice must be given

not fewer than 5 days previous to the date of the meeting as

fixed in the adjournment.

Article V. Elections

The Credit Union must select one of the four voting options.

This may be done by printing the credit union’s bylaws with the

option selected or retaining this copy and checking the box of

the option selected.

 Option A1 In-person elections; nominating committee and

nominations from floor

Section 1. At least 30 days prior to each annual meeting, the

chair will appoint a nominating committee of not fewer than three

members. It is the duty of the nominating committee to nominate

at least one member for each vacancy, including any unexpired

term vacancy, for which elections are being held, and to

determine that the members nominated are agreeable to the placing

of their names in nomination and will accept office if elected.

Section 2. After the nominations of the nominating committee

have been placed before the members, the chair calls for

nominations from the floor. When nominations are closed, tellers

are appointed by the chair, ballots are distributed, the vote is

taken and tallied by the tellers, and the results announced. All
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elections are determined by plurality vote and will be by ballot

except where there is only one nominee for the office.

 Option A2 - In-person elections; nominating committee and

nominations by petition

Section 1. At least 120 days prior to each annual meeting the

chair will appoint a

nominating committee of not fewer than three members. It is the

duty of the

nominating committee to nominate at least one member for each

vacancy, including any unexpired term vacancy, for which

elections are being held, and to determine that the members

nominated are agreeable to the placing of their names in

nomination and will accept office if elected. The nominating

committee files its nominations with the secretary of the credit

union at least 90 days prior to the annual meeting, and the

secretary notifies in writing all members eligible to vote at

least 75 days prior to the annual meeting that nominations for

vacancies may also be made by petition signed by 1% of the

members with a minimum of 20 and a maximum of 500.

The written notice must indicate that the election will not be

conducted by ballot and there will be no nominations from the

floor when there is only one nominee for each position to be

filled. A brief statement of qualifications and biographical

data in a form approved by the board of directors will be

included for each nominee submitted by the nominating committee
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with the written notice to all eligible members. Each nominee by

petition must submit a similar statement of qualifications and

biographical data with the petition. The written notice must

state the closing date for receiving nominations by petition. In

all cases, the period for receiving nominations by petition must

extend at least 30 days from the date that the petition

requirement and the list of nominating committee's nominees are

mailed to all members. To be effective, such nominations must be

accompanied by a signed certificate from the nominee or nominees

stating that they are agreeable to nomination and will serve if

elected to office. Such nominations must be filed with the

secretary of the credit union at least 40 days prior to the

annual meeting and the secretary will ensure that nominations by

petition along with those of the nominating committee are posted

in a conspicuous place in each credit union office at least 35

days prior to the annual meeting.

Section 2. All persons nominated by either the nominating

committee or by petition must be placed before the members. When

nominations are closed, tellers are appointed by the chair,

ballots are distributed, the vote is taken and tallied by the

tellers, and the results announced. All elections are determined

by plurality vote and will be by ballot except where there is

only one nominee for each position to be filled.

Nominations cannot be made from the floor unless insufficient

nominations have
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been made by the nominating committee or by petition to provide

for one nominee

for each position to be filled or circumstances prevent the

candidacy of the one nominee for a position to be filled. Only

those positions without a nominee are subject to nominations from

the floor. In the event nominations from the floor are permitted

and result in more than one nominee for a position to be filled,

when nominations have been closed, tellers are appointed by the

chair, ballots are distributed, the vote is taken and tallied by

the tellers, and the results announced. When only one member is

nominated for each position to be filled, the chair may take a

voice vote or declare each nominee elected by general consent or

acclamation at the annual meeting.

 Option A3 - Election by ballot boxes or voting machine;

nominating committee and nomination by petition

Section 1. At least 120 days prior to each annual meeting, the

chair will appoint a

nominating committee of not fewer than three members. It is the

duty of the

nominating committee to nominate at least one member for each

vacancy, including any unexpired term vacancy, for which

elections are being held, and to determine that the members

nominated are agreeable to the placing of their names in

nomination and will accept office if elected. The nominating

committee files its nominations with the secretary of the credit
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union at least 90 days prior to the annual meeting, and the

secretary notifies in writing all members eligible to vote at

least 75 days prior to the annual meeting that nominations for

vacancies may also be made by petition signed by 1% of the

members with a minimum of 20 and a maximum of 500.

The written notice must indicate that the election will not be

conducted by ballot and there will be no nominations from the

floor when there is only one nominee for each position to be

filled. A brief statement of qualifications and biographical

data in a form approved by the board of directors will be

included for each nominee submitted by the nominating committee

with the written notice to all eligible members. Each nominee by

petition must submit a similar statement of qualifications and

biographical data with the petition. The written notice must

state the closing date for receiving nominations by petition. In

all cases, the period for receiving nominations by petition must

extend at least 30 days from the date of the petition requirement

and the list of nominating committee's nominees are mailed to all

members. To be effective, such nominations must be accompanied

by a signed certificate from the nominee or nominees stating that

they are agreeable to nomination and will serve if elected to

office. Such nominations must be filed with the secretary of the

credit union at least 40 days prior to the annual meeting and the

secretary will ensure that nominations by petition along with

those of the nominating committee are posted in a conspicuous
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place in each credit union office at least 35 days prior to the

annual meeting.

Section 2. All elections are determined by plurality vote. The

election will be conducted by ballot boxes or voting machines,

subject to the following conditions:

 (a) The election tellers will be appointed by the board of

directors;

 (b) If sufficient nominations are made by the nominating

committee or by petition to provide more than one nominee for any

position to be filled, the secretary, at least 10 days prior to

the annual meeting, will cause ballot boxes and printed ballots,

or voting machines, to be placed in conspicuous locations, as

determined by the board of directors with the names of the

candidates posted near the boxes or voting machines. The name of

each candidate will be followed by a brief statement of

qualifications and biographical data in a form approved by the

board of directors;

 (c) After the members have been given 24 hours to vote at

conspicuous locations as determined by the board of directors,

the ballot boxes or voting machines will be opened, the vote

tallied by the tellers, the tallies placed in the ballot boxes,

and the ballot boxes resealed. The tellers are responsible at

all times for the ballot boxes or voting machines and the

integrity of the vote. A record must be kept of all persons

voting and the tellers must assure themselves that each person so

voting is entitled to vote; and
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 (d) The ballot boxes will be taken to the annual meeting by the

tellers. At the annual meeting, printed ballots will be

distributed to those in attendance who have not voted and their

votes will be deposited in the ballot boxes placed by the

tellers, before the beginning of the meeting, in conspicuous

locations with the names of the candidates posted near them.

After such members have been given an opportunity to vote at the

annual meeting, balloting will be closed, the ballot boxes

opened, the vote tallied by the tellers and added to the previous

count, and the chair will announce the result of the vote.

 Option A4 - Election by electronic device (including but not limited

to telephone and electronic mail) or mail ballot; nominating committee

and nominations by petition

Section 1. At least 120 days prior to each annual meeting, the

chair will appoint a

nominating committee of not fewer than three members. It is the

duty of the

nominating committee to nominate at least one member for each

vacancy, including any unexpired term vacancy, for which

elections are being held, and to determine that the members

nominated are agreeable to the placing of their names in

nomination and will accept office if elected. The nominating

committee files its nominations with the secretary of the credit

union at least 90 days prior to the annual meeting, and the

secretary notifies in writing all members eligible to vote at
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least 75 days prior to the annual meeting that nominations for

vacancies may also be made by petition signed by 1% of the

members with a minimum of 20 and a maximum of 500.

The written notice must indicate that the election will not be

conducted by ballot and there will be no nominations from the

floor when there is only one nominee for each position to be

filled. A brief statement of qualifications and biographical

data in a form approved by the board of directors will be

included for each nominee submitted by the nominating committee

with the written notice to all eligible members. Each nominee by

petition must submit a similar statement of qualifications and

biographical data with the petition. The written notice must

state the closing date for receiving nominations by petition. In

all cases, the period for receiving nominations by petition must

extend at least 30 days from the date of the petition requirement

and the list of nominating committee's nominees are mailed to all

members. To be effective, such nominations must be accompanied

by a signed certificate from the nominee or nominees stating that

they are agreeable to nomination and will serve if elected to

office. Such nominations must be filed with the secretary of the

credit union at least 40 days prior to the annual meeting and the

secretary will ensure that nominations by petition along with

those of the nominating committee are posted in a conspicuous

place in each credit union office at least 35 days prior to the

annual meeting.
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Section 2. All elections will be by electronic device or mail

ballot, subject to the following conditions:

 (a) The election tellers will be appointed by the board of

directors;

 (b) If sufficient nominations are made by the nominating

committee or by petition to provide more than one nominee for any

position to be filled, the secretary, at least 30 days prior to

the annual meeting, will cause either a printed ballot or notice

of ballot to be mailed to all members eligible to vote;

 (c) If the credit union is conducting its elections

electronically, the secretary will cause the following materials

to be mailed to each eligible voter and the following procedures

will be followed:

 (1) One notice of balloting stating the names of the

candidates for the board of directors and the candidates for

other separately identified offices or committees. The name of

each candidate must be followed by a brief statement of

qualifications and biographical data in a form approved by the

board of directors.

 (2) One instruction sheet stating specific instructions for

the electronic election procedure, including how to access and

use the system, and the period of time in which votes will be

taken. The instruction will state that members without the

requisite electronic device necessary to vote on the system may

vote by mail ballot upon written or telephone request and specify

the date the request must be received by the credit union.
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 (3) It is the duty of the tellers of election to verify, or

cause to be verified the name of the voter and the credit union

account number as they are registered in the electronic balloting

system. It is the duty of the teller to test the integrity of

the balloting system at regular intervals during the election

period.

 (4) Ballots must be received no later than midnight 5

calendar days prior to the annual meeting.

 (5) Voting will be closed at the midnight deadline specified

in subsection (4) hereof and the vote will be tallied by the

tellers. The result must be verified at the annual meeting and

the chair will make the result of the vote public at the annual

meeting.

 (6) In the event of malfunction of the electronic balloting

system, the board of directors may in its discretion order

elections be held by mail ballot only. Such mail ballots must

conform to section 2(d) of this Article and must be mailed to all

eligible members 30 days prior to the annual meeting. The board

may make reasonable adjustments to the voting time frames above,

or postpone the annual meeting when necessary, to complete the

elections prior to the annual meeting.

 (d) If the credit union is conducting its election by mail

ballot, the secretary will cause the following materials to be

mailed to each member and the following procedures will be

followed:

 (1) One ballot, clearly identified as such, on which the

names of the candidates for the board of directors and the
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candidates for other separately identified offices or committees

are printed in order as determined by the draw of lots. The name

of each candidate will be followed by a brief statement of

qualifications and biographical data in a form approved by the

board of directors;

 (2) One ballot envelope clearly marked with instructions that

the completed ballot must be placed in that envelope and sealed;

 (3) One identification form to be completed so as to include

the name, address, signature and credit union account number of

the voter;

 (4) One mailing envelope in which the voter, pursuant to

instructions provided with the mailing envelope, must insert the

sealed ballot envelope and the identification form, and which

must have postage prepaid and be preaddressed for return to the

tellers;

 (5) When properly designed, one form can be printed that

represents a combined ballot and identification form, and postage

prepaid and preaddressed return envelope;

 (6) It is the duty of the tellers to verify, or cause to be

verified, the name and credit union account number of the voter

as appearing on the identification form; to place the verified

identification form and the sealed ballot envelope in a place of

safekeeping pending the count of the vote; in the case of a

questionable or challenged identification form, to retain the

identification form and sealed ballot envelope together until the

verification or challenge has been resolved;
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 (7) Ballots mailed to the tellers must be received by the

tellers no later than midnight 5 days prior to the date of the

annual meeting;

 (8) Voting will be closed at the midnight deadline specified

in subsection (7) hereof and the vote will be tallied by the

tellers. The result will be verified at the annual meeting and

the chair will make the result of the vote public at the annual

meeting.

Section 3. Nominations may be in the following order:

(a) Nominations for directors.

(b) Nominations for credit committee members, if applicable.

Elections may be by separate ballots following the same order as

the above nominations or, if preferred, may be by one ballot for

all offices.

Section 4. Members cannot vote by proxy, but a member other than

a natural person may vote through an agent designated in writing

for the purpose. A trustee, or other person acting in a

representative capacity, is not, as such, entitled to vote.

Section 5. Irrespective of the number of shares, no member has

more than one vote.

Section 6. The names and addresses of members of the board,

board officers, executive committee, and members of the credit

committee, if applicable, and supervisory committees must be
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forwarded to the Administration in accordance with the Act and

regulations in the manner as may be required by the

Administration.

Section 7. The board may establish by resolution a minimum age,

not greater than 18 years of age, as a qualification for

eligibility to vote at meetings of the members, or to hold

elective or appointive office, or both.

The Credit Union may select the absentee ballot provision in conjunction

with the voting procedure it has selected. This may be done by printing

the credit union’s bylaws with this provision or by retaining this copy and

checking the box.

 Section 8 The board of directors may authorize the use

of absentee ballots in conjunction with the other procedures

authorized in this article, subject to the following

conditions:

(a) The election tellers will be appointed by the board of

directors;

(b) If sufficient nominations are made by the nominating

committee or by petition to provide more than one nominee for any

position to be filled, the secretary, at least 30 days prior to

the annual meeting, will cause printed ballots to be mailed to

all members of the credit union who are eligible to vote and who

have submitted a written request for an absentee ballot;
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(c) The secretary will cause the following materials to be mailed

to each such eligible voter who has submitted a written request

for an absentee ballot:

 (1) One ballot, clearly identified as such, on which the names

of the candidates for the board of directors and the candidates

for other separately identified offices or committees are printed

in order as determined by the draw of the lots. The name of each

candidate will be followed by a brief statement of qualifications

and biographical

data in a form approved by the board of directors;

 (2) One ballot envelope clearly marked with instructions that

the completed ballot must be placed in that envelope and sealed;

 (3) One identification form to be completed so as to include

the name, address, signature and credit union account number of

the voter;

 (4) One mailing envelope in which the voter, pursuant to

instructions provided with the envelope, must insert the sealed

ballot envelope and the identification form, and which must have

postage prepaid and be preaddressed for return to the tellers;

 (5) When properly designed, one form can be printed that

represents a combined ballot and identification form, and postage

prepaid and preaddressed return envelope;

 (d) It is the duty of the tellers of election to verify, or

cause to be verified, the name and credit union account number of

the voter as appearing on the identification form; to place the

verified identification and the sealed ballot envelope in a place

of safekeeping pending the count of the vote; in the case of a
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questionable or challenged identification form, to retain the

identification form and the sealed ballot envelope together until

the verification or challenge has been resolved; and in the event

that more than one voting procedure is used, to verify that no

eligible voter has voted more than one time;

(e) Ballots mailed to the tellers pursuant to subsection (b)

hereof, must be received by the tellers no later than midnight 5

days prior to the date of the annual meeting; and

(f) After the expiration of the period of time specified in the

prededing subsection (e), the voting by absentee ballot will be

closed and absentee ballots deposited in the ballot boxes to be

taken to the annual meeting or included in a precount in

accordance with procedures specified in Article V, Section 2.

Article VI. Board of Directors

Section 1. The board consists of _____ members, all of whom must

be members of this credit union. The number of directors may be

changed to an odd number not fewer than 5 nor more than 15 by

resolution of the board. No reduction in the number of directors

may be made unless corresponding vacancies exist as a result of

deaths, resignations, expiration of terms of office, or other

actions provided by these bylaws. A copy of the resolution of

the board covering any increase or decrease in the number of

directors must be filed with the official copy of the bylaws of

this credit union.
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Section 2. _______(Fill in the number) directors or committee

members may be a paid employee of the credit union.

________(Fill in the number) immediate family members of a

director or committee member may be a paid employee of the credit

union. In no case may employees and family members constitute a

majority of the board. The board may appoint a management

official who ______ (may or may not) be a member of the board and

one or more assistant management officials who ______(may or may

not) be a member of the board. If the management official or

assistant management official is permitted to serve on the board,

he or she may not serve as the chair.

Section 3. Regular terms of office for directors must be for

periods of either 2 or 3 years as the board determines:

provided, however, that all regular terms must be for the same

number of years and until the election and qualification of

successors. The regular terms must be fixed at the beginning, or

upon any increase or decrease in the number of directors, that

approximately an equal number of regular terms must expire at

each annual meeting.

Section 4. Any vacancy on the board, credit committee, if

applicable, or supervisory committee will be filled within a

reasonable time by vote of a majority of the directors then

holding office. Directors and credit committee members so

appointed will hold office only until the next annual meeting, at

which any unexpired terms will be filled by vote of the members,
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and until the qualification of their successors. Members of the

supervisory committee so appointed will hold office until the

first regular meeting of the board following the next annual

meeting of members, at which the regular term expires, and until

the appointment and qualification of their successors.

Section 5. A regular meeting of the board must be held each

month at the time and place fixed by resolution of the board.

One regular meeting each calendar year must be conducted in

person. If a quorum is present in person for the annual in

person meeting, the remaining board members may participate using

audio or video teleconference methods. The other regular meetings

may be conducted using audio or video teleconference methods.

The chair, or in the chair’s absence the ranking vice chair, may

call a special meeting of the board at any time and must do so

upon written request of a majority of the directors then holding

office. Unless the board prescribes otherwise, the chair, or in

the chair’s absence the ranking vice chair, will fix the time and

place of special meetings. Notice of all meetings will be given

in such manner as the board may from time to time by resolution

prescribe. Special meetings may be conducted using audio or

video teleconference methods.

Section 6. The board has the general direction and control of

the affairs of this credit union and is responsible for

performing all the duties customarily performed by boards of

directors. This includes but is not limited to the following:
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(a) Directing the affairs of the credit union in accordance with

the Act, these bylaws, the rules and regulations and sound

business practices.

(b) Establishing programs to achieve the purposes of this credit

union as stated in Article 1, section 2, of these bylaws.

(c) Establishing a loan collection program and authorizing the

chargeoff of uncollectible loans.

(d) Determining that all persons appointed or elected by this

credit union to any position requiring the receipt, payment or

custody of money or other property of this credit union, or in

its custody or control as collateral or otherwise, are properly

bonded in accordance with the Act and regulations.

(e) Performing additional acts and exercising additional powers

as may be required or authorized by applicable law.

If the credit union has an elected credit committee, you do not

need to check a box. If the credit union has no credit committee

check Option 1 and if it has an appointed credit committee check

Option 2.

 Option 1 No Credit Committee.

(f) Reviewing denied loan applications of members who file

written requests for such review.

(g) Appointing one or more loan officers and delegating to those

officers the power to approve or disapprove loans, lines of

credit or advances from lines of credit.
27

(h) In its discretion, appointing a loan review committee to

review loan denials and delegating to the committee the power to

overturn denials of loan applications. The committee will

function as a mid-level appeal committee for the board. Any

denial of a loan by the committee must be reviewed by the board

upon written request of the member. The committee must consist

of three members and the regular term of office of the committee

member will be for two years. Not more than one member of the

committee may be appointed as a loan officer.

 Option 2 Appointed Credit Committee.

(f) Appointing an odd number of credit committee members as

provided in Article VIII of these bylaws.

Section 7. A majority of the number of directors, including any

vacant positions, constitutes a quorum for the transaction of

business at any meeting; but fewer than a quorum may adjourn from

time to time until a quorum is in attendance.

Section 8. If a director or a credit committee member, if

applicable, fails to attend regular meetings of the board or

credit committee, respectively, for 3 consecutive months, or 4

meetings within a calendar year, or otherwise fails to perform

any of the duties as a director or a credit committee member, the

office may be declared vacant by the board and the vacancy filled

as provided in the bylaws. The board may remove any board

officer from office for failure to perform the duties thereof,
28

after giving the officer reasonable notice and opportunity to be

heard.

When any board officer, membership officer, executive committee

member or investment committee member is absent, disqualified, or

otherwise unable to perform the duties of the office, the board

may by resolution designate another member of this credit union

to fill the position temporarily. The board may also, by

resolution, designate another member or members of this credit

union to act on the credit committee when necessary in order to

obtain a quorum.

Section 9. Any member of the supervisory committee may be

suspended by a majority vote of the board of directors. The

members of this credit union will decide, at a special meeting

held not fewer than 7 nor more than 14 days after any such

suspension, whether the suspended committee member will be

removed from or restored to the supervisory committee.

Article VII. Board Officers, Management Officials and Executive

Committee

Section 1. The board officers of this credit union are comprised

of a chair, one or more vice chairs, a financial officer, and a

secretary, all of whom are elected by the board and from their

number. The board determines the title and rank of each board

officer and records them in the addendum to this Article. One
29

board officer, the ____________________, may be compensated for

services as determined by the board. If more than one vice chair

is elected, the board determines their rank as first vice chair,

second vice chair, and so on. The offices of the financial

officer and secretary may be held by the same person. Unless

removed as provided in these bylaws, the board officers elected

at the first meeting of the board hold office until the first

meeting of the board following the first annual meeting of the

members and until the election and qualification of their

respective successors.

Section 2. Board officers elected at the meeting of the board

next following the annual meeting of the members, which must be

held not later than 7 days after the annual meeting, hold office

for a term of 1 year and until the election and qualification of

their respective successors: provided, however, that any person

elected to fill a vacancy caused by the death, resignation, or

removal of an officer is elected by the board to serve only for

the unexpired term of such officer and until a successor is duly

elected and qualified.

Section 3. The chair presides at all meetings of the members and

at all meetings of the board, unless disqualified through

suspension by the supervisory committee. The chair also performs

such other duties as customarily appertain to the office of the

chair or as may be directed to perform by resolution of the board

not inconsistent with the Act and regulations and these bylaws.
30

Section 4. The board must approve all individuals who are

authorized to sign all notes of this credit union and all checks,

drafts and other orders for disbursement of credit union funds.

Section 5. The ranking vice chair has and may exercise all the

powers, authority, and duties of the chair during the chair’s

absence or inability to act.

Section 6. The financial officer manages this credit union under

the control and direction of the board unless the board has

appointed a management official to act as general manager.

Subject to such limitations, controls and delegations as may be

imposed by the board, the financial officer will:

(a) Have custody of all funds, securities, valuable papers and

other assets of this credit union.

(b) Provide and maintain full and complete records of all the

assets and liabilities of this credit union in accordance with

forms and procedures prescribed in the Accounting Manual for

Federal Credit Unions or otherwise approved by the

Administration.

(c) Within 20 days after the close of each month, ensure that a

financial statement showing the condition of this credit union as

of the end of the month, including a summary of delinquent loans

is prepared and submitted to the board and post a copy of such

statement in a conspicuous place in the office of the credit
31

union where it will remain until replaced by the financial

statement for the next succeeding month.

(d) Ensure that such financial and other reports as the

Administration may require are prepared and sent.

(e) Within standards and limitations prescribed by the board,

employ tellers, clerks, bookkeepers, and other office employees,

and have the power to remove such employees.

(f) Perform such other duties as customarily appertain to the

office of the financial officer or as may be directed to perform

by resolution of the board not inconsistent with the Act,

regulations and these bylaws.

The board may employ one or more assistant financial officers,

none of whom may also hold office as chair or vice chair, and may

authorize them, under the direction of the financial officer, to

perform any of the duties devolving on the financial officer,

including the signing of checks. When designated by the board,

any assistant financial officer may also act as financial officer

during the financial officer’s temporary absence or temporary

inability to act.

Section 7. The board may appoint a management official who is

under the direction and control of the board or of the financial

officer as determined by the board. The management official may

be assigned any or all of the responsibilities of the financial

officer described in section 6 of this article. The board will

determine the title and rank of each management official and
32

record them in the addendum to this article. The board may

employ one or more assistant management officials. The board may

authorize assistant management officials under the direction of

the management official, to perform any of the duties devolving

on the management official, including the signing of checks.

When designated by the board, any assistant management official

may also act as management official during the management

official’s temporary absence or temporary inability to act.

Section 8. The board employs, fixes the compensation, and

prescribes the duties of such employees as may in the discretion

of the board be necessary, and has the power to remove such

employees, unless it has delegated these powers to the financial

officer or management official. Neither the board, the financial

officer, nor the management official has the power or duty to

employ, prescribe the duties of, or remove necessary clerical and

auditing assistance employed or utilized by the supervisory

committee and, if there is a credit committee, the power or duty

to employ, prescribe the duties of, or remove any loan officer

appointed by the credit committee.

Section 9. The secretary prepares and maintains full and correct

records of all meetings of the members and of the board, which

records will be prepared within 7 days after the respective

meetings. The secretary must promptly inform the Administration

in writing of any change in the address of the office of this

credit union or the location of its principal records. The
33

secretary will give or cause to be given, in the manner

prescribed in these bylaws, proper notice of all meetings of the

members, and perform such other duties as may be directed to

perform by resolution of the board not inconsistent with the Act,

regulations and these bylaws. The board may employ one or more

assistant secretaries, none of whom may also hold office as

chair, vice chair, or financial officer, and may authorize them

under direction of the secretary to perform any of the duties

devolving on the secretary.

Section 10. The board may appoint an executive committee of not

fewer than three directors to serve at its pleasure, to act for

it with respect to specifically delegated functions authorized by

the Act and regulations. The board may also authorize such

executive committee or a membership officer(s) appointed by the

board from the membership other than a board member paid as an

officer, the financial officer, any assistant to the paid officer

of the board or to the financial officer or any loan officer, to

serve at its pleasure to approve applications for membership

under such conditions as the board and these bylaws may

prescribe. No executive committee member or membership officer

may be compensated as such.

Section 11. The board may appoint an investment committee

composed of not less than two, to serve at its pleasure to have

charge of making investments under rules and procedures
34

established by the board. No member of the investment committee

may be compensated as such.

Addendum: The board must list the positions of the board officers

and management officials of this credit union. They are as

follows:

Select Option 1 if the credit union has a credit committee and Option 2 if

it does not have a credit committee.

 Option 1 Article VIII. Credit Committee

Section 1. The credit committee consists of _____ members. All

the members of the credit committee must be members of this

credit union. The number of members of the credit committee must

be an odd number and may be changed to not fewer than 3 nor more

than 7 by resolution of the board. No reduction in the number of

members may be made unless corresponding vacancies exist as a

result of deaths, resignations, expiration of terms of office, or

other actions provided by these bylaws. A copy of the resolution

of the board covering any increase or decrease in the number of

committee members must be filed with the official copy of the

bylaws of this credit union.
35

Section 2. Regular terms of office for elected credit committee

members are for periods of either 2 or 3 years as the board

determines: provided, however, that all regular terms are for

the same number of years and until the election and qualification

of successors. The regular terms are fixed at the beginning, or

upon any increase or decrease in the number of committee members,

that approximately an equal number of regular terms expire at

each annual meeting.

Regular terms of office for appointed credit committee members

are for periods as determined by the board and as noted in the

board’s minutes.

Section 3. The credit committee chooses from their number a

chair and a secretary. The secretary of the committee prepares

and maintains full and correct records of all actions taken by

it, and such records must be prepared within 3 days after the

action. The offices of the chair and secretary may be held by

the same person.

Section 4. The credit committee may, by majority vote of its

members, appoint one or more loan officers to serve at its

pleasure, and delegate to them the power to approve application

for loans or lines of credit, share withdrawals, releases and

substitutions of security, within limits specified by the

committee and within limits of applicable law and regulations.

Not more than one member of the committee may be appointed as a
36

loan officer. Each loan officer must furnish to the committee a

record of each approved or not approved transaction within 7 days

of the date of the filing of the application or request, and such

record becomes a part of the records of the committee. All

applications or requests not approved by a loan officer must be

acted upon by the committee. No individual may disburse funds of

this credit union for any application or share withdrawal which

the individual has approved as a loan officer.

Section 5. The credit committee holds meetings as the business of

this credit union may require, and not less frequently than once

a month. Notice of such meetings will be given to members of the

committee in a manner as the committee may from time to time, by

resolution, prescribe.

Section 6. The credit committee or loan officer must for each

loan or line of credit inquire into the character and financial

condition of the applicant and the applicant’s sureties, if any,

to ascertain their ability to repay fully and promptly the

obligations incurred by them and to determine whether the loan or

line of credit will be of probable benefit to the borrower. The

credit committee and its appointed loan officers should endeavor

diligently to assist applicants in solving their financial

problems.
37

Section 7. No loan or line of credit may be made unless approved

by the committee or a loan officer in accordance with applicable

law and regulations.

Section 8. Subject to the limits imposed by applicable law and

regulations, these bylaws, and the general policies of the board,

the credit committee, or a loan officer, determines the security,

if any, required for each application and the terms of repayment.

The security furnished must be adequate in quality and character

and consistent with sound lending practices. When funds are not

available to make all the loans and lines of credit for which

there are applications, preference should be given, in all cases,

to the smaller applications if the need and credit factors are

nearly equal.

 Option 2 Article VIII. Loan Officers (No Credit Committee)

Section 1. Each loan officer must maintain a record of each

approved or not approved transaction within 7 days of the filing

of the application or request, and such record becomes a part of

the records of the credit union. No individual may disburse

funds of this credit union for any application or share

withdrawal which the individual has approved as a loan officer.

Section 2. The loan officer must for each loan or line of credit

inquire into the character and financial condition of the

applicant and the applicant’s sureties, if any, to ascertain
38

their ability to repay fully and promptly the obligations

incurred by them and to determine whether the loan or line of

credit will be of probable benefit to the borrower. The loan

officers should endeavor diligently to assist applicants in

solving their financial problems.

Section 3. No loan or line of credit may be made unless approved

by a loan officer in accordance with applicable law and

regulations.

Section 4. Subject to the limits imposed by applicable law and

regulations, these bylaws, and the general policies of the board,

a loan officer determines the security if any required for each

application and the terms of repayment. The security furnished

must be adequate in quality and character and consistent with

sound lending practices. When funds are not available to make all

the loans and lines of credit for which there are applications,

preference should be given, in all cases, to the smaller

applications if the need and credit factors are nearly equal.

Article IX. Supervisory Committee

Section 1. The supervisory committee is appointed by the board

from among the members of this credit union, one of whom may be a

director other than the financial officer. The board determines

the number of members on the committee, which may not be fewer

than 3 nor more than 5. No member of the credit committee, if
39

applicable, or any employee of this credit union may be appointed

to the committee. Regular terms of committee members are for

periods of 1, 2, or 3 years as the board determines: provided,

however, that all regular terms are for the same number of years

and until the appointment and qualification of successors. The

regular terms are fixed at the beginning, or upon any increase or

decrease in the number of committee members, so that

approximately an equal number of regular terms expires at each

annual meeting.

Section 2. The supervisory committee members choose from among

their number a chair and a secretary. The secretary of the

supervisory committee prepares, maintains, and has custody of

full and correct records of all actions taken by it. The offices

of chair and secretary may be held by the same person.

Section 3. The supervisory committee makes, or causes to be made,

such audits, and prepares and submits such written reports, as

are required by the Act and regulations. The committee may employ

and use such clerical and auditing assistance as may be required

to carry out its responsibilities prescribed by this article, and

may request the board to provide compensation for such

assistance. It will prepare and forward to the Administration

such reports as may be required.

Section 4. The supervisory committee will cause the verification

of the accounts of all members with the records of the financial
40

officer from time to time and not less frequently than as

required by the Act and regulations. The committee must maintain

a record of such verification.

Section 5. By unanimous vote, the supervisory committee may

suspend until the next meeting of the members any director, board

officer, or member of the credit committee. In the event of any

such suspension, the supervisory committee must call a special

meeting of the members to act on the suspension, which meeting

must be held not fewer than 7 nor more than 14 days after the

suspension. The chair of the committee acts as chair of the

meeting unless the members select another person to act as chair.

Section 6. By the affirmative vote of a majority of its members,

the supervisory committee may call a special meeting of the

members to consider any violation of the provisions of the Act,

the regulations, or of the charter or the bylaws of this credit

union, or to consider any practice of this credit union which the

committee deems to be unsafe or unauthorized.

Article X. Organization Meeting

Section 1. At the time application is made for a federal credit

union charter, the subscribers to the organization certificate

must meet for the purpose of electing a board of directors and a

credit committee, if applicable. Failure to commence operations

within 60 days following receipt of the approved organization
41

certificate is cause for revocation of the charter unless a

request for an extension of time has been submitted to and

approved by the Regional Director.

Section 2. The subcribers elect a chair and a secretary for the

meeting. The subscribers then elect from their number, or from

those eligible to become members of this credit union, a board of

directors and a credit committee, if applicable, all to hold

office until the first annual meeting of the members and until

the election and qualification of their respective successors.

If not already a member, every person elected under this section

or appointed under section 3 of this article, must qualify within

30 days by becoming a member. If any person elected as a

director or committee member or appointed as a supervisory

committee member does not qualify as a member within 30 days of

such an election or appointment, the office will automatically

become vacant and be filled by the board.

Section 3. Promptly following the elections held under the

provisions of section 2 of this article, the board must meet and

elect the board officers who will hold office until the

first meeting of the board of directors following the first

annual meeting of the members and until the election and

qualification of their respective successors. The board also

appoints a supervisory committee at this meeting as provided in

Article IX, section 1, of these bylaws and a credit committee, if
42

applicable. The members so appointed hold office until the first

regular meeting of the board following the first annual meeting

of the members and until the appointment and qualification of

their respective successors.

Article XI. Loans and Lines of Credit to Members

Section 1. Loans may only be made to members and for provident or

productive purposes in accordance with applicable law and

regulations.

Section 2. Any member whose loan is delinquent may be required to

pay a late charge as determined by the board of directors.

Article XII. Dividends

Section 1. The board establishes dividend periods and declares

dividends as permitted by the Act and applicable regulations.

Article XIII. Deposit of Funds

Section 1. All funds of this credit union, except for petty cash

and cash change funds, must be deposited in such qualified

depository or depositories from among those authorized by

applicable law and regulations as the board may from time to time

by resolution designate; and must be so deposited not later than
43

the ______ (fill in number) banking day after their receipt:

provided, however, that receipts in the aggregate of $_______

(fill in number) or less may be held as long as 1 week before

they are deposited.

Article XIV. Expulsion and Withdrawal

Section 1. A member may be expelled only in the manner provided

by the Act. Expulsion or withdrawal will not operate to relieve

a member of any liability to this credit union. All amounts paid

in on shares by expelled or withdrawing members, prior to their

expulsion or withdrawal, will be paid to them in the order of

their withdrawal or expulsion, but only as funds become available

and only after deducting any amounts due to this credit union.

Article XV. Minors

Section 1. Shares may be issued in the name of a minor.

Article XVI. General

Section 1. All power, authority, duties, and functions of the

members, directors, officers, and employees of this credit union,

pursuant to the provisions of these bylaws, must be exercised in

strict conformity with the provisions of applicable law and

regulations, and of the charter and the bylaws of this credit

union.
44

Section 2. The officers, directors, members of committees and

employees of this credit union must hold in confidence all

transactions of this credit union with its members and all

information respecting their personal affairs, except when

permitted by state or federal law.

Section 3. Notwithstanding any other provisions in these bylaws,

any director or committee member of this credit union may be

removed from office by the affirmative vote of a majority of the

members present at a special meeting called for the purpose, but

only after an opportunity has been given to be heard.

Section 4. No director, committee member, officer, agent, or

employee of this credit union may participate in any manner,

directly or indirectly, in the deliberation upon or the

determination of any question affecting his or her pecuniary or

personal interest or the pecuniary interest of any corporation,

partnership, or association (other than this credit union) in

which he or she is directly or indirectly interested. In the

event of the disqualification of any director respecting any

matter presented to the board for deliberation or determination,

such director must withdraw from such deliberation or

determination; and in such event the remaining qualified

directors present at the meeting, if constituting a quorum with

the disqualified director or directors, may exercise with respect

to this matter, by majority vote, all the powers of the board.
45

In the event of the disqualification of any member of the credit

committee, if applicable, or the supervisory committee, such

committee member must withdraw from such deliberation or

determination.

Section 5. Copies of the organization certificate of this credit

union, its bylaws and any amendments thereof, and any special

authorizations by the Administration must be preserved in a place

of safekeeping. Copies of the organization certificate and field

of membership amendments should be attached as an appendix to

these bylaws. Returns of nominations and elections and

proceedings of all regular and special meetings of the members

and directors must be recorded in the minute books of this credit

union. The minutes of the meetings of the members, the board,

and the committees must be signed by their respective chairmen or

presiding officers and by the persons who serve as secretaries of

such meetings.

Section 6. All books of account and other records of this credit

union must be available at all times to the directors and

committee members of this credit union. The charter and bylaws

of this credit union must be made available for inspection by any

member and, if the member requests a copy, it will be provided

for a reasonable fee.

Section 7. Members must keep the credit union informed of their

current address.
46

Section 8. (a) The credit union may elect to indemnify to the

extent authorized by (check one)

[ ] law of the state of __________:

[ ] Model Business Corporation Act:

the following individuals from any liability asserted against

them and expenses reasonably incurred by them in connection with

judicial or administrative proceedings to which they are or may

become parties by reason of the performance of their official

duties (check as appropriate).

[ ] current officials

[ ] former officials

[ ] current employees

[ ] former employees

(b) The credit union may purchase and maintain insurance on

behalf of the individuals indicated in (a) above against any

liability asserted against them and expenses reasonably incurred

by them in their official capacities and arising out of the

performance of their official duties to the extent such insurance

is permitted by the applicable state law or the Model Business

Corporation Act.
47

(c) The term “ official” in this bylaw means a person who is a

member of the board of directors, credit committee, supervisory

committee, other volunteer committee (including elected or

appointed loan officers or membership officers), established by

the board of directors.

Article XVII. Amendments of Bylaws and Charter

Section 1. Amendments of these bylaws may be adopted and

amendments of the charter requested by the affirmative vote of

two-thirds of the authorized number of members of the board at

any duly held meeting of the board if the members of the board

have been given prior written notice of the meeting and the

notice has contained a copy of the proposed amendment or

amendments. No amendment of these bylaws or of the charter may

become effective, however, until approved in writing by the NCUA

Board.

Article XVIII. Definitions

Section 1. When used in these bylaws the terms:

(a) "Act" means the Federal Credit Union Act, as amended.

(b) "Administration" means the National Credit Union

Administration.

(c) "Board" means board of directors of the federal credit union.
48

(d) "NCUA Board" means the Board of the National Credit Union

Administration.

(e) "Regulation" or "regulations" means rules and regulations

issued by the NCUA Board.

(f) "Applicable law and regulations" means the Federal Credit

Union Act and rules and regulations issued thereunder or other

applicable federal and state statutes and rules and regulations

issued thereunder as the context indicates (such as The Higher

Education Act of 1965).

(g) "Paid in and unimpaired capital," as of a given date, means

the balance of the paid-in share accounts as of such date, less

any losses that may have been incurred for which there is no

reserve or which have not been charged against undivided

earnings.

(h) "Surplus," as of a given date, means the credit balance of

the undivided earnings account on such date, after all losses

have been provided for and net earnings or net losses have been

added thereto or deducted therefrom, as the case may be.

Reserves are not considered as a part of the surplus.

(i) "Share" or "shares" means all classes of shares and share

certificates that may be held in accordance with applicable law

and regulations.

Section 2. If included in the definition of the field of

membership in the organization certificate charter of this credit

union, the term or expressions:
49

(a) "Organizations of such persons" means an organization or

organizations composed exclusively of persons who are within the

field of membership of this credit union.

(b) “ Immediate family member” eligibility is limited to spouse,

child, sibling, parent, grandparent or grandchild. For the

purposes of this definition, immediate family member includes

stepparents, stepchildren, stepsiblings, and adoptive

relationships. A credit union may adopt a more restrictive

definition of this term by deleting this definition from its

bylaws and replacing it with its own more restrictive definition

.

(c) “ Household” is defined as persons living in the same

residence maintaining a single economic unit. A credit union

may adopt a more restrictive definition of this term by

deleting this definition from its bylaws and replacing it with

its own more restrictive definition 
50

Accounts:

 Deceased Members III 5(d)

 Verification of IX 4

Accounting Manual VII 6

Amendments of bylaws XVII

 and charter

Annual meetings (See Meetings)

Applicable law and regulations XVIII 1(f)

Applications for membership

 (See Membership)

Assistant chair

 Duties and powers VII 5

 Election of VII 1

 Rank, if more than one VII 1

 Term of office VII 1, 2

X 3

Assistant Management Official VII 7

Assistant Secretary VII 9

Assistant Financial Officer VII 6

Audit IX 3

 Assistance VII 8

IX 3

Bonds for persons having

 custody of funds VI 5(d)

Books and records

 Audit of IX 3

 Forms and procedures VII 6(b)

 Inspection of XVI 6

 Minute books XVI 5

Bylaws

 Amendments of XVII 1

 Inspection of, by members XVI 6

 Safekeeping of XVI 5

Chair (President)

 Absence of VII 5

 Appointment of Nom. Com. V 1

 Duties and powers VII 3

 Election of VII 1

 Term of office VII 1, 2

X 3

Chair of committees and meetings

 Board of directors meeting VII 3

 Credit committee VIII 3

 Members’ meeting VII 3

IX 5

 Organization meeting X 2

 Supervisory committee IX 2

Charter I 1

 Amendments of XVII 1

 Inspection of by members XVI 6

 Safekeeping of XVI 5

Checks, signing of VII 4

Clerical assistance

 Compensation of VII 8

 Use by supervisory com. IX 3

Committees

 Credit

 Absence of members VI 8

 Appointment by board VI 6(f)

 Appointment of loan officer VIII 4

 Chair, selection of VIII 3

 Changes in, reporting of V 6

 Conflict XVI 4

 Divulgence of information XVI 2

 Election of VIII 2

X 2

 Meetings of VIII 3, 5

 Number of members of VIII 1, 2

 Officers VIII 3

 Records of VIII 3

 Removal of members VI 8

XVI 3

 Report at annual meeting IV 4

 Secretary of VIII 3

 Serving on supervisory com. IX 1

 Suspension of members IX 5

 Term of office VI 4

VIII 2

X 3

 Vacancies VI 4, 8

 Executive

 Appointment of IX 10

 Approval of membership

 applications II 2

 Conflict XVI 4
 Article Section Article Section

51

 Divulgence of information XVI 2

 Removal of XVI 3

 Loan review VI 6(h)

 Nominating V 1

 Supervisory

 Appointment of IX 1

X 3

 Assistance of IX 3

 Conflict XVI 4

 Divulgence of information XVI 2

 Duties of IX 3-6

 Membership of IX 1

 Officers IX 2

 Records, maintenance of IX 2

 Removal of members XVI 3

 Report at annual meeting IV 4

 Suspension by IX 5

 Suspension of VI 9

 Term of office IX 1

 Vacancies on VI 4

Compensation

 Of employees, loan officer,

 supervisory com. Assistance VII 8

 Of executive com. members,

 membership officer VII 10

 Of financial officer VII 6

Confidentiality of members’

 transactions XVI 2

Definitions XVIII

Depositories XIII

Directors

 Changes in, reporting of V 6

 Conflict XVI 4

 Divulgence of information by XVI 2

 Paid employees VI 2

 Removal of XVI 3

 For failure to attend meetings VI 8

 Report at annual meeting IV 4

 Suspension of IX 5

 Term of office VI 3, 4

X 2, 3

Directors, board of

 Delegation to executive com.

 and membership officer II 2

 Duties of VI 4-9

VII 4-11

 Election of VI 3

X 2

 Meetings VI 5, 7, 8

 Number of members VI 1

 Quorum VI 7

 Records, maintenance of VII 9

 Vacancies on VI 4

Disqualification of committee

 members, directors, officers XVI 4

Dividends

 Deceased members III 5(d)

 Declaration of XII 1

Elections

 Absentee ballots V 8

 At annual meeting V 1-8

 At organization meeting X 2, 3

 Minimum age for voting V 7

 Nominations for V 1-3

 Results V 6

 Types

 In-person, nominating com.,

 nominations from floor V A1 1, 2

 In-person, nominating com.,

 nomination by petition V A2 1, 2

 Ballot boxes or voting

 machines V A3 1, 2

 Electronic device or mail

 ballot V A4 1, 2

Endorsers III 5(c)

Examination of records XVI 6

Expulsion of members XIV 1

Field of membership II 1

 Household XVII 2(c)

 Immediate family member XVII 2(b)

 Once a member II 4

 Organization of such persons XVII 2(a)

Financial officer (Treasurer)

 Assistant VII 6

 Compensation of VII 6

 Duties and powers VII 6

 Election of VII 1

 Reports of IV 4

VII 6

 Signatory powers VII 4

 Term of office VII 1, 2

X 3

Financial statements VII 6
 Article Section Article Section

52

Funds

 Custody of VII 6

 Deposit of XIII 1

 Disbursement of VII 4, 6

 Credit committee VIII 4

 No credit committee VIII 1

Indemnification of officials and

 employees XVI 8

Inspection

 Charter, bylaws by member XVI 6

 Records by directors and

 committee members XVI 6

Investment committee VII 11

Joint accounts III 7

Late charges XI 2

Loan officer/credit committee

 Appointment of VIII 4

 Approval of loans by VIII 4, 7, 8

 Compensation of VII 8

 Duties of VIII 4 , 6, 7,

8

 Removal of VII 8

Loan officer/no credit committee

 Appointment of VI 6(g)

 Approval of loans by VIII 1, 3, 4

 Compensation of VII 8

 Duties of VIII 1-4

 Removal of VII 8

Loan review committee VI 6(h)

Management official VII 7

Meetings

 Annual

 Adjournment of IV 5

 Elections V 1-8

 Location IV 1

 Notice IV 2, 5

 Posting IV 2

 Order of business IV 4

 Quorum IV 5

 Records VII 9

 Time IV 1

 Waiving of notice IV 2

 Credit committee VIII 3, 5

 Directors, board of VI 4, 5, 7, 8

VII 9

 Organization X 1-3

 Special

 Adjournment IV 5

 Call IV 3

 By supervisory committee IX 5, 6

 Location IV 3

 Notice IV 2, 3

 Quorum IV 5

 Waiving notice IV 2

Members

 Confidentiality of information XVI 2

 Deceased III 5(d)

 Eligibility

 For loans XI 1

 For voting V 4, 5, 7

 Liability III 5(c)

 Meetings IV 1-5

 

Membership

 Application II 2

 Denial II 2

 Election II 2

 Expulsion XIV 1

 Field of II 1, 4

 Qualifications II 1-4

 Termination II 4

 Withdrawal II 3

XIV 1

Membership officer

 Absence of VI 8

 Appointment VII 10

 Compensation VII 10

 Conflict XVI 4

Minors

 Issuance of shares to XV 1

 Voting by V 7

Minutes

 Reading at annual meeting IV 4

 Signing XVI 5

Name of credit union I 1

Nominations, returns of,

 safekeeping XVI 5

National Credit union Admin.

 Appointments and election

 results, reporting V 6
 Article Section Article Section

53

 Bylaw and charter

 amendments, approval XVII 1

 Financial officer’s report VII 6(d)

 Supervisory committee report IX 3

Notices of Meetings

 Called by supervisory 

 committee IX 5, 6

 Board of directors VI 5

 Credit committee VIII 5

 Members IV 2, 5

Order of business at

 annual meeting IV 4

Organization meeting X 1-3

Organization of such

 persons, defined XVII 2(a)

Paid-in and unimpaired

 capital, defined XVII 1(g)

Pecuniary interests of

 officials XVI 4

Posting

 Financial statement VII 6(c)

 Notice of meetings IV 2, 5

Quorum at meetings

 board of directors VI 7

 members IV 5

Removals from office

 Committee members VI 8

XVI 3

 Directors VI 8

XVI 3

 Employees VII 8

 Loan officers VII 8

Revocation of charter X 1

Secretary

 Board of directors and credit

 union VII 1, 2, 9

 Credit committee VIII 3

 Organization meeting X 2

 Supervisory committee IX 2

Shares

 Dividends on XII 1

 Issuance of, to minors XV 1

 Joint accounts III 7

 Maximum to member III 2

 Deceased members III 5(d)

 Par value III 1

 Payment of subscription III 1

 Pledged as security III 5

 Reduction below par III 3

 Subscription for membership II 2

 Transfer of III 4

 Dividend credits III 4

 Withdrawals, excessive III 5(e)

Special meetings

 Board of directors VI 5

 Members IV 2, 3, 5

IX 5, 6

XVI 3

Suspension of directors, 

 Board officers and credit

 committee IX 5

Vacancies

 Board of directors VI 4, 8

 Credit committee VI 4, 8

 Failure to qualify X 2, 3

 Officers VII 2

 Supervisory committee VI 4

Voting

 By proxy V 4

 By trustee V 4

 Minimum age V 7

 Votes to one member V 5

Withdrawals

 From membership II 3

XIV 1

 Of all shareholdings II 3

 Of shareholdings III 5