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119-s-4808119th CongressWALLET

Privately Insured Credit Unions Conversion Modernization Act

Sponsored By: Senator Cortez Masto, Catherine [D-NV]

Introduced

Summary

Eases conversions for privately insured credit unions by removing a voter turnout floor and lengthening the required notice period. This bill would strike the statutory 20 percent member participation requirement for conversion votes and replace the prior 7 to 30 day voting window with a minimum 90 day period, changing the timing and voting rules that apply to privately insured credit unions.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Changes to private credit union conversions

This bill would change how privately insured credit unions handle conversions. It would remove the rule that a conversion vote must have at least 20% member participation. It would replace the prior 7–30 day timing window with a required minimum 90-day period. These changes would apply only to credit unions that are privately insured and the bill text gives no start date.

Sponsors & CoSponsors

Sponsor

Cortez Masto, Catherine [D-NV]

NV • D

Cosponsors

  • Sen. Moreno, Bernie [R-OH]

    OH • R

    Sponsored 6/17/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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