The Cooperative Credit Union Association is proud to share that H.1338/S.821, An Act Allowing Fair Compensation of Massachusetts Credit Union Directors, has been signed into law by the Governor Maura Healey. This important victory demonstrates what our collective voice can accomplish.
Based on member credit union feedback, CCUA drafted the legislation, secured sponsors, testified before the Joint Committee on Financial Services, and worked closely with legislative leaders and staff to advance the bill. Your engagement—from direct advocacy to participation in Massachusetts Credit Union Advocacy Day—helped make this success possible.
The law takes effect immediately and allows members of Massachusetts state-chartered credit unions, at their annual meetings, to decide whether—and how much—to compensate their board members for their service.
This Massachusetts legislative victory builds on a strong year of advocacy, including drafting and passing a public deposit bill in Delaware and board compensation legislation in New Hampshire. At the federal level, CCUA also played a crucial role in securing Senator Blunt Rochester as the Democratic sponsor and advancing the bill within the Democratic caucus in the U.S. Senate to include it in the ROAD to Housing Bill of the 21st century, which passed Congress and is now the law. Together, these achievements underscore the power of coordinated, strategic advocacy and the importance of engaging and amplifying our collective voice.
Thank you for your partnership and advocacy. This is a shared victory, and we look forward to building on this momentum together.
Please do not hesitate to reach out to our advocacy team, Adrian Velazquez, Chief Advocacy Officer (avelazquez@ccua.org), or Jessica Avery, Director of Advocacy (javery@ccua.org), with any questions.