Easier conversions for private credit unions, longer notice for members.
This bill makes it easier for privately insured credit unions to change their structure, while giving members more notice. Right now, 20% of members must vote for a conversion to happen, and they get 7 to 30 days' notice. This bill removes the 20% voting rule and requires at least 90 days' notice before such a vote.
Current law requires at least 20% of all members to participate in a privately insured credit union's conversion vote. Members also receive 7 to 30 days' notice. This bill would remove the 20% participation rule. It would also require credit unions to give members at least 90 days' notice before a conversion vote.
HR 9900 · 119th Congress · July 23, 2026 · AI Summary by gemini-2.5-flash · 10/10
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