National Credit Union Administration June 8, 2017 – Federal Register Recent Federal Regulation Documents

Bylaws; Bank Conversions and Mergers; and Voluntary Mergers of Federally Insured Credit Unions
Document Number: 2017-11331
Type: Proposed Rule
Date: 2017-06-08
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to revise the procedures a federal credit union (FCU) must follow to merge voluntarily with another credit union. The proposed changes: Revise and clarify the contents and format of the member notice; require merging FCUs to disclose all merger-related financial arrangements for covered persons; increase the minimum member notice period; and provide procedures to allow reasonable member-to-member communications regarding the proposed merger. The proposed changes also make conforming amendments to NCUA regulations governing termination of federal share insurance when the continuing credit union is not an FCU.