Dear Member,
 
The National Credit Union Administration (NCUA) recently updated its regulations regarding the process credit unions can undertake to expel members. In response, Adirondack Regional FCU has updated our bylaws to reflect those changes.

By law, we are required to notify you of these changes, which modify Article XIV of our bylaws. (Expulsion is a rare event, typically precipitated by a serious or repeated violation of our terms and conditions; causing a disruption to our operations; or fraud, attempted fraud or a conviction related to business with us.)

No action is required by you. If you have an account with us on Jan. 25, 2024, these terms will automatically apply. If you have questions or concerns, please call us at 518-359-2921, send email to information@adkcreditunion.com, or visit any branch.

Standard Expulsion Notice:
We may terminate your membership in Adirondack Regional Federal Credit Union in one of three ways. The first way is through a special meeting. Under this option, we may call a special meeting of the members, provide you an opportunity to be heard, and obtain a two-thirds vote of the members present at the special meeting in favor of your expulsion. The second way to terminate your membership is under a nonparticipation policy given to each member that follows certain requirements. The third way to terminate your membership is by a two-thirds vote of a quorum of the directors of the credit union for cause. Cause is defined as follows: (A) a substantial or repeated violation of [The Terms and Conditions of your Account] with us; (B) a substantial or repeated disruption, including dangerous or abusive behavior, to the credit union's operations; or (C) fraud, attempted fraud, or a conviction of other illegal conduct that a member has been convicted of in relation to us, including in connection with our employees conducting business on behalf of us. Before the board votes on an expulsion, [we] must provide written notice to your mail address (or email, if applicable) on record or personally provide the written notice. [We] must provide the specific reasons for the expulsion and allow you an opportunity to rebut those reasons through a hearing if you choose. It is your responsibility to keep your contact information with [us] up to date, and to open and read notices from us. Unless we determine to allow otherwise, there is no right to an in-person hearing with the board. If you fail to request a hearing within 60 calendar days of receipt of the notice, you will be expelled. You may submit any complaints about your pending expulsion or expulsion to NCUA's Consumer Assistance Center if the complaint cannot be resolved with the credit union. We will confirm any expulsion with a letter with information on the effect of the expulsion and how you can request reinstatement. Expulsion or withdrawal from membership does not relieve a member of liability to the credit union, and we may demand immediate repayment of the money you owe to us after expulsion, subject to any applicable contract terms and conditions. For additional information on expulsion and a copy of our expulsion policy, see Article XIV of our Bylaws.

Sincerely,

Russ Cronin
President & CEO