allowing credit union members to pay members of the board of directors for their services as a board member.

SB 487 amends New Hampshire law to allow credit unions to pay their board members for serving on the board, which is currently prohibited. The bill removes the existing restriction preventing such payments, enabling credit union members (the owners) to set the compensation amount at an annual meeting. This change directly affects credit unions and their board members by making board service compensable, rather than requiring it to be voluntary. The law now permits credit unions to establish board compensation as part of their operational structure.