SB3113 amends the Illinois Credit Union Act to update investment limits, allow remote board meetings, and regulate digital asset services.

SB3113 amends the Illinois Credit Union Act to allow credit unions to invest in financial technology companies up to 2.5% of their net worth, subject to certain conditions. It also permits board and committee meetings to be held remotely via conference calls or other communication methods. Additionally, the bill regulates credit unions offering digital asset services, requiring them to inform members that digital assets are not federally insured and are not guaranteed by the credit union.

SB3113 amends the Illinois Credit Union Act to update investment limits, allow remote board meetings, and regulate digital asset services.

SB3113 amends the Illinois Credit Union Act to allow credit unions to invest in financial technology companies up to 2.5% of their net worth, subject to certain conditions. It also permits board and committee meetings to be held remotely via conference calls or other communication methods. Additionally, the bill regulates credit unions offering digital asset services, requiring them to inform members that digital assets are not federally insured and are not guaranteed by the credit union.