(1)    Board members. No member of the board of directors may receive any compensation for services as a member of the board other than reasonable health, accident and similar insurance.

   (3)   Expenditures. To the extent permitted by a credit union’s bylaws, the officers elected by the board of directors and the members of the credit committee may receive such compensation as the board authorizes, but the expenditures of the credit union for all purposes shall be paid from its earnings.