Advocacy in Action: CCUA Leaders Testified on Board Compensation

New Hampshire Credit Union Leaders,

Yesterday, I had the privilege of testifying before the New Hampshire Senate Commerce Committee alongside Scott MacKnight, President/CEO of Triangle Credit Union, to advocate for Senate Bill 25. This important CCUA-backed legislation would allow state-chartered credit unions in New Hampshire the option to compensate their board members.

Our advocacy for this legislation is based on valuable input from our member credit unions, who have expressed the need for this modernization to better address evolving challenges and opportunities in the financial industry.

In my testimony, I emphasized how credit unions play a vital role in New Hampshire’s economy, contributing over $1.1 billion annually and supporting thousands of organizations, including our decades-long partnership with Make-A-Wish New Hampshire. Senate Bill 25 is designed to empower credit union memberships with the democratic choice to compensate their boards—enhancing governance, attracting skilled leaders, and aligning with the practices of 16 other states.

Scott underscored the increasing complexities of the financial industry and the growing demands on credit union boards. He shared how compensation not only helps recruit and retain talented leaders but also fosters accountability and stronger governance for the benefit of all members.

We are proud to champion this legislation as a vital step toward modernizing the credit union framework in New Hampshire. I’m pleased to share that the bill was passed out of the Senate Commerce Committee with a 5-0 bipartisan vote. The next step is a vote on the Senate floor, followed by consideration in the House.

Thank you for your continued support as we work together to strengthen our movement and better serve our members.

Regards,

Ron McLean
President/CEO
Cooperative Credit Union Association
rmclean@ccua.org