Credit union members would get at least 90 days' notice for major votes, and fewer members would need to participate.
This bill would change how privately insured credit unions make big decisions, like converting their status. It would give members at least 90 days' notice before such a vote, much longer than current rules. It would also remove the rule that at least 20% of all members must participate in these votes.
Today, if a privately insured credit union wants to change its status, at least 20% of its total members must participate in the vote, and members get between 7 and 30 days' notice. This bill would remove the 20% participation requirement. It would also require credit unions to give members at least 90 days' notice before such a vote.
S 4808 · 119th Congress · June 17, 2026 · AI Summary by gemini-2.5-flash · 10/10
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