Has anyone come across a request to lower par value? Every standard I know is $5.00 par value
Recently heard management and BoD looking to reduce par value (across all accounts) to $2.00 per voting member of the CU

Hold on current membership accounts would be reduced to the $2.00 and any new accounts would only require $2.00 to establish membership. Am I correct in stating the BoD can set par value (because at this point I think I've lost my mind all together)? Or can you point me to where it defines that par can be less than what seems like an industry standard of $5.00

When it comes to stock, par value is more or less an accounting concept with no real meaning other than it's a type of equity.

Are you a State or Federal Credit Union? If Federal see the attached. If State, you would need to refer to State law.

https://www.ncua.gov/regulation-sup.../membership-rights-and-par-value-shares#