Regulatory
Conversion to State-Chartered Credit Union
Issued by National Credit Union Administration
What the record says
The NCUA Board (Board) solicits public comment on a proposal to remove a regulatory provision regarding the process for maintaining federal share insurance following the conversion of a federal credit union (FCU) to a state charter. The provision is unnecessarily duplicative of a similar provision contained in NCUA's Chartering and Field of Membership Manual (Manual), and is outdated, having been superseded by amendments to the Manual.
This is a factual description of what was issued or decided, not an assessment of it.