January 22, 2015
Dear LSCU Affiliated Credit Union CEO: Over the last eighteen months, the LSCU & Affiliates has undertaken a process to review and update the League’s bylaws. For background purposes, the membership of the Alabama and Florida Leagues voted in favor of consolidation in March 2009 and, at that time, approved new bylaws for the association. In the League’s current bylaws, Article III, Section 3 states: “Beginning in 2015 and at least every five (5) years thereafter, the Board will cause a review of governance structure and election procedures regarding whether the existent structure adequately represents the needs of member credit unions.” To meet this provision in the current bylaws, the LSCU & Affiliates Governance Committee began working in the fall of 2013 with the goal of modernizing our League’s bylaws while also allowing for more flexibility moving forward. The committee is comprised of both Alabama and Florida directors, as well as both the LSCU CEO and chairman who serve as ex-officio members. The process involved reviewing every article and section of the current bylaws compared with bylaws from eight different leagues, similar in size and scope to the LSCU & Affiliates. In January 2015, the LSCU Board of Directors approved proposed new bylaws and membership categories and charged management with scheduling town hall meetings to educate member credit unions on the proposed changes, answer questions and receive feedback. It is the board’s intent to put new bylaws before the membership for a vote at the LSCU’s annual meeting scheduled for June 18 in Orlando. You will find the complete town hall meeting schedule, as well both the current and proposed new bylaws on our website. Because the bylaws were completely rewritten, we were not able to provide an edited (redline) version of the current bylaws. It is very important to the board to have an inclusive, transparent process, so I strongly urge you to attend one of the face-to-face town hall meetings or participate in a webinar scheduled for April 14. In the meantime, if you have any questions, please do not hesitate to contact an LSCU director or me directly at 205.348.7050 or via email.
Sincerely,
Steve Swofford Chairman, League of Southeastern Credit Unions & Affiliates President/CEO, Alabama Credit Union
ALABAMA OFFICE: 22 Inverness Center Parkway, Suite 200, Birmingham AL 35242 | 205.991.9710 FLORIDA OFFICE: 3692 Coolidge Court, Tallahassee FL 32311 | 850.576.8171
866.231.0545 www.lscu.coop