Conference 7.286::dcu

    I was once told by a DCU employee that I couldn't get a copy of the
    bylaws without asking the president for it.  That struck me as
    incredible.  (A note which detailed this interchange was among those
    which were lost in the shuffle several months ago.) 
    
    I've since discovered a couple of interesting items in the General Laws
    of the Commonwealth of Massachusetts.  (I don't have the actual texts
    with me.) 
    
    Title XII 	Corporations
      Chapter 171   Credit Unions
        Section 7	Bylaws
    	  Form 11	    Location
    				The updated bylaws or a copy thereof
    				must be kept at the President's office.
    	  Form 12	    Access by Members
    				A copy of the bylaws must be kept in
    				a convenient place� for inspection
    				during normal business hours.
    
      � "convenient place" isn't defined in the law.  At the least, there
    	should be a copy at the DCU main office at PKO5.  My belief is
    	that a copy should be available at each branch, particularly
    	those outside the Greater Maynard Area.

    What you learn when you ask questions....
    
    Mr. Mangone, President and CEO of the DCU was kind enough to return
    my call regarding the By-Laws. Here are the answers to your questions:
    
    A copy of the By-Laws is available for viewing by members at:
    
    	DCU Headquarters
	141 Parker Street
	Maynard, MA 01754
    
    If a visit to Maynard is not convenient, please contact Mary Madden
    at the same address for a copy to be made and mailed to you. You
    can also call Mary at (dtn) 223-6735, extension 239 and request
    the same mailing.
    
    Also, the following information was provided by the president. These
    are not direct quotes, but my summary of the information exchanged
    in the phone call.
    
    ALL CREDIT UNIONS IN THE UNITED STATES HAVE THE SAME BY-LAWS. These
    By-Laws are dictated by the federal credit union agency that oversees
    credit unions. The agency is located in Washington, DC. Copies of
    the generic By-Laws came be requested from them as well. {Sorry,
    I didn't ask for the address and don't know it off-hand.}
    
    You should be aware that the By-Laws document number 75-100 pages in
    length and are among the most boring reading you might ever consider
    to attack {so I am told, having never subjected myself to this task}. 
    
    Not all credit unions fully implement the "power" the By-Laws provide.
    The DCU, for example, offers mortgages under the powers outlined in the
    By-Laws, where other credit unions may choose not to use this power. 

    Mr. Mangone asked, "Why do members want to see or read the
    By-Laws?" I told him I'd ask you. Your replies will be passed
    through to the DCU via the process in place {or you are welcome
    to call him directly with your answer}.
    
    I hope this information is helpful to the VAXNotes file DCU members.
    
    Carl 

    One of the reasons for seeing the bylaws is that people do what
    you inspect as opposed to what you expect.
    
    I also read contract BEFORE I sign them.

    Another reason one might want to peruse the bylaws is the fact that DCU
    employees sometimes hide behind them.  When presented with anything
    that's out of the ordinary, the safe reply is to say that the bylaws
    don't permit same.  My bet is that DCU's employees haven't read them
    either.

    Thanks for the information.The reason for the question was stated
    in .4.I had asked a question about something they were doing and
    they stated because that's the way they operate.I went back to see
    if I had signed anything to say they can operate that way and found
    only the application to join stated abide by the " By-Laws ".So
    my next question was "What and where are they?"Your answers have
    answered by question.
    
    Thanks again.
    
    
    Walter