Missouri Credit Union Board Policy for Membership Termination
- Pursuant to Missouri Revised Statute Section 370.340, the Board of Directors may expel a member from membership in the Credit Union in the event the member shall:
- cause, or make known his/her intention to cause a financial loss to the Credit Union, whether by way of a loan default, account overdraft or otherwise, or take any action that would render all or part of his/her obligation(s) to the Credit Union unenforceable or adversely affect, damage, or conceal collateral for any loan;
- adversely affect, disrupt or interfere with the business operations and activities of the Credit Union;
- have his/her employment with the Credit Union terminated for cause;
- take any action which adversely affects the safety or soundness of the Credit Union;
- disrupt or interfere with the activities of any membership, committee or board meeting, or the election of any officer, director, or committee person of the Credit Union;
- conduct his/her business affairs with the Credit Union in a manner contrary to the safe and sound operations of the Credit Union;
- cause embarrassment or public disfavor to the reputation of the Credit Union;
- commit any crime in which any member, volunteer or staff person of the Credit Union is a victim or in which any property of the Credit Union is damaged;
- harass, in any way, manner or form, any volunteer, member or staff person of the Credit Union.
- Any person expelled by the Board may request a hearing before the Board to reconsider the expulsion. The request for hearing must be made in writing and be delivered to the President of the Credit Union before the close of business within ten days of the date of expulsion.
- A copy of the Credit Union Board Policy shall be published on the Credit Union’s web site.
Last revision: October 2009