Nonmember Insurance Disclosures Simplified for Credit Unions (6 words)
Published Date: 8/6/2026
Rule
Summary
The NCUA Board (Board) is amending its regulations that establish the requirements for obtaining and maintaining federal share insurance with the National Credit Union Share Insurance Fund (Share Insurance Fund). The provisions of this part apply to all federally insured credit unions (FICUs). The rule will reduce regulatory burden by eliminating unnecessary and redundant requirements related to disclosing when nonmember accounts are not covered by federal share insurance.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Duplicitous Nonmember Notice Removed
If you run or manage a federally insured credit union (FICU), the NCUA removed 12 CFR Sec. 741.10 effective September 8, 2026. That section used to require FISCUs to identify nonmember accounts on reports and send written letters to nonmember account holders saying those accounts were not insured by the Share Insurance Fund; removing it cuts duplicative paperwork and regulatory text.
Contract Notice Requirement Still Binding
Even though Sec. 741.10 is removed on September 8, 2026, state-chartered FISCUs must still follow their contractual obligations under NCUA Form 9600 to identify nonmember share or deposit accounts and notify nonmember account holders that those accounts are not federally insured as a condition of maintaining share insurance.
No Significant Small Credit Union Impact
NCUA certified that the final rule will not have a significant economic impact on a substantial number of small credit unions; for this analysis NCUA defines small credit unions as those with under $100,000,000 in assets.
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Key Dates
Department and Agencies
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