Development Best Practices in Credit Union Supervision: Model Credit Union Bylaws

The paper presents the:

• Significance of a bylaw for a credit union;
• Scope and minimum requirements of a model by-law;
• Model format for a credit union b-ylaw.

The model format constitutes twenty sections, each containing articles elaborating on the broad information heads. Some of the discussed sections are as follows:

• Credit union goals;
• Capital, shares and savings;
• Disputes handling and member expulsions;
• Credit and supervisory committees;
• Duties and Responsibilities of operational management;
• Investments of funds, cash and liquidity;
• Payment of credit union expenses and dividends on ownership shares;
• Reserves;
• Loans;
• Conflict of interest;
• Merger and liquidation;
• General provisions and miscellaneous items.