Monday, February 26, 2024

The N.C. Credit Union Commission: Meeting On Monday Feb. 25, 2024 - (THAT'S TODAY!) - Hey, Listen Up! ... Remember this?

* To Kristina Ray, Administrator of Credit Unions  Oct, 9, 2023 11:42PM

Dear Ms. Ray:

We listened with great interest to the discussion held at today's Commission meeting. Hope the subcommittee review of bylaw standards and the State Statutes will be a productive process. Look forward to learning more about how the process will be implemented and managed.

As we understood the purpose of the Commission meeting today, it was to address the two simple questions we proposed to you in our October 7, 2023 letter (excerpt):

Q: 1)  Is the N.C. Credit Union Division required by North Carolina law to monitor and enforce compliance by state-chartered credit unions with their bylaws?
Q: 2)  May a N.C. state-chartered credit union adopt rules, policies and procedures which effectively amend its bylaws without approval by the NCCUD?

We first posed these questions in our 7-25-2023 meeting with you which was over 60 days ago [now 210 days!]. Thank you.

Jean and Jim Blaine
October 9, 2023

🎉 Well... Today you can listen in to the Commission at work! 🎉


       ✅ Monday, February 26, 2024 2:30 P.M. 

👉 Toll Free Number (877) 402-9753 Access Code 6601929 👈    Again ???? ... lets hope not!


  1. When was this announced? Glad they are getting around to it. Thought it had been swept under the carpet never to happen....

  2. Replies
    1. Was unable to join the call?
      Were the two questions answered by the Administrator?
      Hope so, NC law doesn't appear to be obscure in regards to these two questions.

  3. I listened to the N.C. Credit Union Commission meeting today and was more confused after the meeting. First of all, why is it so hard to answer two yes or no questions? I just don’t get it. I thought I understood Kristina Ray to say that only a credit union could challenge a change in the bylaws of a credit union. But then, later on, I thought someone indicated that a group of credit union members could challenge a change in the bylaws and that their challenge would be addressed. Did I hear wrong? Also, in explaining the process to change or amend credit bylaws, she described a process that I interpreted to take an extended period of time; probably months and certainly much longer that just a couple of days. So, she never answered the question of how the credit union was able to have bylaws amended within a few days. I was extremely disappointed in the whole process.