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H 1338MASSACHUSETTSSession 194thState BillSigned into law
Enacted

Massachusetts authorizes credit unions to pay compensation to board of directors

Original title: An Act allowing fair compensation of Massachusetts credit union directors

Last action · August 26, 2026: Signed by the Governor, Chapter 195 of the Acts of 2026Sponsor: Andy Vargas

Bill progressHistory & official text ↓
Introduced
Committee
Floor Vote
Passed
Law

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What This Bill Does

Massachusetts credit unions are now permitted to pay compensation to members of their board of directors and committees as fixed by members at an annual meeting, following the enactment of House Bill 1338.

Why it matters

Changes how financial institutions govern internal payments by giving credit union members direct authority to set compensation for board and committee members.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Credit union board members

Board members may now receive financial compensation for their services as fixed by the credit union members.

Directly affected

Credit union members

Credit union members gain the authority to fix and determine compensation for members of the board of directors and committees at an annual meeting.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Who decides how much compensation credit union board members receive?
The compensation is fixed by the members of the credit union at an annual meeting.
When does this law take effect?
The act takes effect upon its passage.

What else do you want to know?

News Coverage

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Votes, people, money & the original source

Where This Stands

Current status: Signed into law.

Procedural history

25 actions
  1. Aug 26, 2026ExecutiveEnrolled
    Signed by the Governor, Chapter 195 of the Acts of 2026
  2. Aug 17, 2026Senate
    Enacted and laid before the Governor
  3. Aug 17, 2026House
    Enacted
  4. Aug 13, 2026SenateFloor
    Emergency preamble adopted
  5. Aug 13, 2026HouseFloor
    Emergency Preamble adopted
  6. Aug 10, 2026SenateFloor
    Read third (title changed) and passed to be engrossed
Show 19 earlier actions
  1. Aug 10, 2026Senate
    Taken out of the Orders of the Day
  2. Jul 31, 2026Senate
    Read second and ordered to a third reading
  3. Jul 31, 2026Senate
    Rules suspended
  4. Jul 31, 2026Senate
    Committee reported that the matter be placed in the Orders of the Day for the next session
  5. Jul 31, 2026Senate
    Accompanied by S821
  6. Jun 23, 2026SenateCommittee
    Read; and referred to the committee on Senate Rules
  7. Jun 18, 2026HouseFloor
    Read third, amended and passed to be engrossed
  8. Feb 12, 2026House
    Read second and ordered to a third reading
  9. Feb 12, 2026House
    Rules suspended
  10. Feb 12, 2026House
    Committee reported that the matter be placed in the Orders of the Day for the next sitting
  11. Jan 15, 2026HouseCommittee
    Bill reported favorably by committee and referred to the committee on House Steering, Policy and Scheduling
  12. Jan 15, 2026House
    Reported on a part of H4931
  13. Jan 15, 2026House
    Reported from the committee on House Rules
  14. Jan 15, 2026House
    Accompanied a study order, see H4931
  15. Oct 30, 2025Joint
    Hearing rescheduled to 10/30/2025 from 10:30 AM-02:00 PM in A-2 <br> <span style="color: blue; font-style: italic;">Hearing updated to New End Time</span>
  16. Oct 30, 2025Joint
    Hearing rescheduled to 10/30/2025 from 10:30 AM-04:00 PM in A-2 <br> <span style="color: blue; font-style: italic;">Hearing updated to New End Time</span>
  17. Oct 21, 2025Joint
    Hearing scheduled for 10/30/2025 from 10:30 AM-01:00 PM in A-2
  18. Feb 27, 2025Senate
    Senate concurred
  19. Feb 27, 2025HouseCommittee
    Referred to the committee on Financial Services

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

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Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Sponsors

Andy VargasHouse · District 3rd EssexDemocraticPrimary sponsor

Connected Entities

Chapter 171, Andy Vargas
otherChapter 171“General Laws chapter governing credit unions”Map →
PersonAndy Vargas“Representative from Haverhill who petitioned for House Bill 1338”Map →

Sources

Open source document

malegislature.gov

Analysis Score

0–100
  • Significance40
    How much this matters to a regular citizen
  • Controversy10
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz15
    Current news / social attention level

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