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Credit Union Board Meetings: Less Frequent for Most, Monthly for New/Troubled.

This act modifies how often credit union boards must meet. Most credit unions will now meet less frequently, potentially streamlining operations. However, new credit unions and those facing financial difficulties will still hold monthly meetings to ensure close oversight.
Key points
Most credit union boards will now be required to meet at least 6 times annually, with one meeting per fiscal quarter, instead of monthly.
New credit unions (for their first 5 years) and those with the lowest financial ratings must continue to meet monthly.
These changes aim to provide more flexibility for credit union boards while maintaining strict oversight for newer or financially weaker institutions.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_4325
Sponsor: Sen. Sinema, Kyrsten [D-AZ]
Process start date: 2022-05-26
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Credit Union Board Modernization Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4325.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-05-26.

What are the main provisions?

Key points include:

  • Most credit union boards will now be required to meet at least 6 times annually, with one meeting per fiscal quarter, instead of monthly.
  • New credit unions (for their first 5 years) and those with the lowest financial ratings must continue to meet monthly.
  • These changes aim to provide more flexibility for credit union boards while maintaining strict oversight for newer or financially weaker institutions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Sinema, Kyrsten [D-AZ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy