James Benjamin, President
Rockford C.I.E. & G. Co. Employees Federal Credit Union
714 - 7th Street
Rockford, Illinois 61104-1388
Re: FCU Bylaw Dispute, Your letter dated October 29, 1997.
Dear Mr. Benjamin:
Chairman D'Amours has referred your letter dated October 29, 1997
to the Office of General Counsel for a response. You have raised
several issues concerning the interpretation of your federal credit
union's (FCU's) bylaws. On October 17, 1997, Nicholas Veghts,
Region IV Director, responded to your concerns. We concur with
his response.
In addition to an interpretation of your bylaws, you are also
asking NCUA to conduct an internal investigation into board procedures
at your federal credit union. This again involves an internal
dispute among the board members. As Region IV has advised you,
it is NCUA's policy not to become involved in disputes among board
members.
You may wish to refer these matters to your FCU's Supervisory
Committee. An FCU's Supervisory Committee is authorized to investigate
and call a special meeting "to consider any violation of
the Act, the regulations, or the charter or the bylaws of this
credit union, or to consider any practice of this credit union,
which the committee deems to be unsafe or unauthorized."
Federal Credit Union Bylaws, Art. X, Section 6.
Sincerely,
Sheila A. Albin
Associate General Counsel
GC/MFR:bhs
SSIC 6100
97-1220
cc: Chairman D'Amours