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Breaking: NCUA Moves to Remove a Major Barrier to Board Service




NCUA just proposed a rule that would allow federal credit unions to reimburse or directly pay reasonable dependent care costs for volunteer officials when those costs are incurred while attending board meetings or performing official duties.

Childcare and eldercare costs are real barriers to serving on a board — especially for working professionals, single parents, and caregivers. At the same time, expectations for board engagement, training, and oversight continue to rise.

A few important guardrails remain:

✔️ Applies only to federal credit unions
✔️ Covers dependent care only — not lost wages or compensation
✔️ Requires written board policy and reasonable controls
✔️ IRS tax treatment still applies (talk to your CPA)

Bottom line: this won't fix board recruitment challenges by itself, but it removes a real friction point for people who want to serve and simply can't absorb the added costs.

NCUA is also asking for comments — including whether training and conferences should clearly qualify as "official duties."

Should they? I'd argue yes. What's your take?

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