HRS §412:10-115
Who can approve loans at a credit union
If the credit union's bylaws allow it, the board can hire a credit manager instead of or along with a credit committee. The credit manager works under the president and can approve or reject loan applications following board rules.
borrowers
The statute, as written — Credit manager
If the bylaws provide, the board of directors may appoint a credit manager in addition to or in lieu of a credit committee, subject to the direct supervision of the president of the credit union. The president may also be the credit manager. The credit manager may approve or disapprove loan applications, subject to written policies established by the board of directors.
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