National Credit Union Administration December 22, 2006 – Federal Register Recent Federal Regulation Documents

Conversion of Insured Credit Unions to Mutual Savings Banks
Document Number: E6-21661
Type: Rule
Date: 2006-12-22
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) is issuing final revisions to its rules regarding the conversion of insured credit unions to mutual savings banks or mutual savings associations. The final rule improves the information available to members and the board of directors as they consider a possible conversion. The final rule includes revised disclosures, revised voting procedures, procedures to facilitate communications among members, and procedures for members to provide their comments to directors before the credit union board votes on a conversion plan.