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Stipend policy?

  • 1.  Stipend policy?

    Posted Jul 29, 2019 09:52 AM

    My Board wants to give me a monthly "stipend" to use, in lieu of things like an auto allowance, spousal travel or cell phone reimbursement.  I can foresee some misunderstandings cropping up since the Supervisory Committee presently signs off on any of my expenses.  Does anyone have a policy of any kind regarding a stipend (Stipends are common in their field)?  Thanks in advance.

     

    Chris

     



  • 2.  RE: Stipend policy?

    Posted Jul 29, 2019 12:06 PM
    We do not use a stipend.  Each director has a travel allotment.

    Hugh

    "I am what I am, and that's all that I am." Popeye






  • 3.  RE: Stipend policy?

    Posted Aug 04, 2019 10:34 AM
    We have Board and Audit (Supervisory) Committee stipends.  We are a state chartered credit union in one of the states that allows for compensation.  Although we have a fabulous Board and Audit committee always in search of learning and always prepared, the decision to do stipends are many - fiduciary responsibility, time involved serving on a variety of committees and preparation and for the younger members and working members; offsetting costs of taking time off work to attend conferences and meetings, attracting qualified members, time away from personal priorities.  We also find that members feel more responsibility to stay current with credit union trends and being prepared.


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    Frank Chinn
    Chairman/Board
    Unitus Community CU
    Portland OR
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