Modernizes conversion rules for privately insured credit unions by changing participation and notification requirements.

The bill amends the Federal Credit Union Act to modernize conversion rules for privately insured credit unions. It removes the requirement for a 20% participation rate in votes and extends the notification period for conversions from 7 to 90 days.

Modernizes conversion rules for privately insured credit unions by changing participation and notification requirements.

The bill amends the Federal Credit Union Act to modernize conversion rules for privately insured credit unions. It removes the requirement for a 20% participation rate in votes and extends the notification period for conversions from 7 to 90 days.