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S. 522 · 119th Congress

Credit Union Board Modernization Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Not yet voted on. This bill is still a proposal: it hasn't reached a floor vote, and its text can change in committee or on the floor before any vote.

BHR HagertySponsor
63 cosponsors · 28 D, 34 R, 1 I
LBD Blunt Rochester TTR Tuberville TBR Budd KCR Cramer JHR Hoeven AKI King MLR Lee SCR Collins CCD Cortez Masto DFR Fischer AKD Klobuchar TKD Kaine JMD Merkley MCR Crapo CCD Coons JRD Reed JRR Risch PRR Ricketts JBR Barrasso SDR Daines LMR Murkowski JBR Boozman KBR Britt TYR Young JCR Curtis SWD Whitehouse MRR Rounds MWD Warner DSR Sullivan JJR Justice BCR Cassidy TCR Cotton APD Padilla JER Ernst GPD Peters TTR Tillis JSD Shaheen BMR Moreno ASD Schiff AAD Alsobrooks AKD Kim TSD Smith JHD Hickenlooper ESD Slotkin MBR Blackburn SCR Capito TSR Sheehy CVD Van Hollen TBD Baldwin JHR Husted JBR Banks RSR Scott RWD Warnock BLD Luján JOD Ossoff RGD Gallego PMD Murray MKD Kelly PWD Welch RWR Wicker CHR Hyde-Smith MHD Hassan AMR Moody

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter.

What it does: CRS summary · Introduced in Senate · Feb 11, 2025

Credit Union Board Modernization Act

This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Credit Union Board Modernization Act

Latest action (Feb 11, 2025): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Feb 11, 2025

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.