August 2, 2022
TO: ALL WISCONSIN STATE-CHARTERED CREDIT UNIONS
RE: SAMPLE BYLAW LANGUAGE FOR VIRTUAL MEETINGS
The Office of Credit Unions and Wisconsin Credit Union League have worked to develop sample bylaw language regarding virtual meetings that Wisconsin credit unions may include in their bylaws in Article IV, Meeting of Members. The sample language is as follows:
Section 7. Virtual meetings. The Board may elect to hold annual and special meetings of the members virtually by webcasts, teleconferences, virtual meeting rooms or similar means that permit participants to listen, vote as necessary, and participate simultaneously. The audio and/or visual accommodations of such virtual meetings must enable all attendees to receive information at the same time and to react and interact with each other in “real time.” Quorum and other legal requirements applicable to in-person meetings remain applicable to virtual meetings.
Before a credit union conducts virtual meetings, it is expected that a majority of the board of directors has approved the above-quoted language (or similar language regarding virtual meetings) or inclusion in the bylaws and that the credit union has the technological capacity to facilitate virtual meeting attendance, voting and participation. It is also important that credit unions clearly communicate details of virtual meetings to their members and follow other meeting requirements within the bylaws.
Adding the sample or alternative language to the bylaws will require an amendment to the bylaws.
Wisconsin Chapter 186.02 (4) (b) requires that “all amendments to the bylaws shall be filed with the office of credit unions and shall be accompanied by the payment of a $50 fee”. Therefore, if your credit union wishes to adopt the sample language, please notify the Office of Credit Unions via letter or email to dfi-ocu@dfi.wisconsin.gov. The Office will provide the bylaw amendment form and send an invoice for the $50 bylaw amendment fee. Please contact the Office of Credit Unions if you have any questions.
Sincerely,
Kim Santos
Kim Santos, Director