Serving on a credit union board takes time, dedication and heart. But for many talented individuals—especially parents and caregivers—the personal cost of volunteering can sometimes be a barrier.
To help change that, the National Credit Union Administration (NCUA) has issued a final rule that makes volunteer service more accessible and family-friendly.
What’s Changing?
Under the old rules, federal credit unions weren’t allowed to reimburse board members for dependent care expenses (like babysitting or elder care) incurred while attending meetings or credit union events.
The NCUA’s new rule changes that by removing these rigid restrictions. Now, federal credit unions have the flexibility to create their own reimbursement policies tailored to their specific size, region and operational needs. If your board wants to cover reasonable childcare or adult dependent care costs so a member can attend a meeting, you now have the green light to do so.
Why This Matters
Volunteers are the backbone of the credit union movement. By allowing credit unions to cover these everyday costs, it becomes much easier to recruit and retain a diverse, talented group of board members who reflect the communities they serve. It ensures that passion and expertise—not personal financial circumstances—determine who can step up to lead.
The Fine Print (Made Simple)
- Who it applies to: This rule applies to all federal credit unions (including corporate federal credit unions).
- State-chartered credit unions: If you are a state-chartered, federally insured credit union, this specific rule doesn’t apply to you; you will continue to follow your local state laws regarding reimbursements.
- Timeline: The rule takes effect July 9, 2026.
What Should Your Credit Union Do Next?
Talk to your board! Since the NCUA isn’t forcing a one-size-fits-all policy, it is up to your leadership team to decide what kinds of family-friendly reimbursement guidelines make the most sense for your credit union.
