WASHINGTON, June 9 -- National Credit Union Administration has issued a rule called: Dependent Care and Board Member Expense Reimbursement.
The rule was published in the Federal Register on June 9 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board is amending its regulations concerning the reimbursement of reasonable expenses for federal credit union (FCU) officials. The amendment revises the definition of compensationto exclude dependent care costs incurred by volunteer officials while attending board meetings and performing official credit union duties. By recognizing these costs as reimbursable, the NCUA Board is authorizing FCUs to remove a potential barrier to volunteer service for persons with dependent car...