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119-s-522119th CongressWALLET

Credit Union Board Modernization Act

Sponsored By: Senator Hagerty, Bill [R-TN]

Introduced

Summary

Creates a tiered, performance-based meeting schedule for federal credit union boards. This bill would tie how often a board must meet to a credit union’s age and its ratings under the Uniform Financial Institutions Rating System (UFIRS) and a management capability rating, replacing a blanket monthly requirement with a two-stage cadence.

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Bill Overview

Analyzed Economic Effects

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

New meeting rules for credit unions

This bill would change how often boards of Federal credit unions must meet. For the first five years after a credit union's organization certificate is approved, boards would meet at least monthly. After that period, credit unions with both a composite rating of 1 or 2 and a management capability rating of 1 or 2 would meet at least six times a year, with at least one meeting each fiscal quarter. Credit unions with a composite rating of 3, 4, or 5 or a management capability rating of 3, 4, or 5 would still have to meet at least monthly.

Sponsors & CoSponsors

Sponsor

Hagerty, Bill [R-TN]

TN • R

Cosponsors

  • Sen. Blunt Rochester, Lisa [D-DE]

    DE • D

    Sponsored 2/11/2025

  • Sen. Tuberville, Tommy [R-AL]

    AL • R

    Sponsored 2/27/2025

  • Sen. Lee, Mike [R-UT]

    UT • R

    Sponsored 3/3/2025

  • Sen. Hoeven, John [R-ND]

    ND • R

    Sponsored 3/3/2025

  • Sen. Cramer, Kevin [R-ND]

    ND • R

    Sponsored 3/3/2025

  • Sen. Budd, Ted [R-NC]

    NC • R

    Sponsored 3/3/2025

  • Sen. King, Angus S., Jr. [I-ME]

    ME • I

    Sponsored 3/3/2025

  • Sen. Klobuchar, Amy [D-MN]

    MN • D

    Sponsored 3/5/2025

  • Sen. Cortez Masto, Catherine [D-NV]

    NV • D

    Sponsored 3/5/2025

  • Sen. Collins, Susan M. [R-ME]

    ME • R

    Sponsored 3/5/2025

  • Sen. Fischer, Deb [R-NE]

    NE • R

    Sponsored 3/5/2025

  • Sen. Kaine, Tim [D-VA]

    VA • D

    Sponsored 3/6/2025

  • Sen. Merkley, Jeff [D-OR]

    OR • D

    Sponsored 3/6/2025

  • Sen. Coons, Christopher A. [D-DE]

    DE • D

    Sponsored 3/10/2025

  • Sen. Crapo, Mike [R-ID]

    ID • R

    Sponsored 3/10/2025

  • Sen. Reed, Jack [D-RI]

    RI • D

    Sponsored 3/11/2025

  • Sen. Risch, James E. [R-ID]

    ID • R

    Sponsored 3/13/2025

  • Sen. Ricketts, Pete [R-NE]

    NE • R

    Sponsored 3/14/2025

  • Sen. Barrasso, John [R-WY]

    WY • R

    Sponsored 3/26/2025

  • Sen. Daines, Steve [R-MT]

    MT • R

    Sponsored 3/26/2025

  • Sen. Murkowski, Lisa [R-AK]

    AK • R

    Sponsored 4/1/2025

  • Sen. Boozman, John [R-AR]

    AR • R

    Sponsored 4/4/2025

  • Sen. Britt, Katie Boyd [R-AL]

    AL • R

    Sponsored 4/7/2025

  • Sen. Young, Todd [R-IN]

    IN • R

    Sponsored 4/7/2025

  • Sen. Whitehouse, Sheldon [D-RI]

    RI • D

    Sponsored 4/10/2025

  • Sen. Curtis, John R. [R-UT]

    UT • R

    Sponsored 4/10/2025

  • Sen. Rounds, Mike [R-SD]

    SD • R

    Sponsored 4/30/2025

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 4/30/2025

  • Sen. Sullivan, Dan [R-AK]

    AK • R

    Sponsored 5/6/2025

  • Sen. Justice, James C. [R-WV]

    WV • R

    Sponsored 5/8/2025

  • Sen. Cassidy, Bill [R-LA]

    LA • R

    Sponsored 5/13/2025

  • Sen. Padilla, Alex [D-CA]

    CA • D

    Sponsored 5/13/2025

  • Sen. Cotton, Tom [R-AR]

    AR • R

    Sponsored 5/13/2025

  • Sen. Ernst, Joni [R-IA]

    IA • R

    Sponsored 5/14/2025

  • Sen. Tillis, Thomas [R-NC]

    NC • R

    Sponsored 5/19/2025

  • Sen. Peters, Gary C. [D-MI]

    MI • D

    Sponsored 5/19/2025

  • Sen. Shaheen, Jeanne [D-NH]

    NH • D

    Sponsored 6/12/2025

  • Sen. Schiff, Adam B. [D-CA]

    CA • D

    Sponsored 6/25/2025

  • Sen. Moreno, Bernie [R-OH]

    OH • R

    Sponsored 6/25/2025

  • Sen. Alsobrooks, Angela D. [D-MD]

    MD • D

    Sponsored 7/9/2025

  • Sen. Kim, Andy [D-NJ]

    NJ • D

    Sponsored 7/15/2025

  • Sen. Smith, Tina [D-MN]

    MN • D

    Sponsored 7/16/2025

  • Sen. Hickenlooper, John W. [D-CO]

    CO • D

    Sponsored 7/21/2025

  • Sen. Slotkin, Elissa [D-MI]

    MI • D

    Sponsored 8/1/2025

  • Sen. Blackburn, Marsha [R-TN]

    TN • R

    Sponsored 9/9/2025

  • Sen. Capito, Shelley Moore [R-WV]

    WV • R

    Sponsored 9/30/2025

  • Sen. Sheehy, Tim [R-MT]

    MT • R

    Sponsored 10/9/2025

  • Sen. Van Hollen, Chris [D-MD]

    MD • D

    Sponsored 10/30/2025

  • Sen. Baldwin, Tammy [D-WI]

    WI • D

    Sponsored 11/4/2025

  • Sen. Husted, Jon [R-OH]

    OH • R

    Sponsored 11/19/2025

  • Sen. Banks, Jim [R-IN]

    IN • R

    Sponsored 12/2/2025

  • Sen. Warnock, Raphael G. [D-GA]

    GA • D

    Sponsored 12/16/2025

  • Sen. Scott, Rick [R-FL]

    FL • R

    Sponsored 12/16/2025

  • Sen. Ossoff, Jon [D-GA]

    GA • D

    Sponsored 12/18/2025

  • Sen. Luján, Ben Ray [D-NM]

    NM • D

    Sponsored 12/18/2025

  • Sen. Gallego, Ruben [D-AZ]

    AZ • D

    Sponsored 1/28/2026

  • Sen. Murray, Patty [D-WA]

    WA • D

    Sponsored 2/10/2026

  • Sen. Kelly, Mark [D-AZ]

    AZ • D

    Sponsored 3/4/2026

  • Sen. Welch, Peter [D-VT]

    VT • D

    Sponsored 3/4/2026

  • Sen. Wicker, Roger F. [R-MS]

    MS • R

    Sponsored 3/5/2026

  • Sen. Hyde-Smith, Cindy [R-MS]

    MS • R

    Sponsored 3/17/2026

  • Sen. Hassan, Margaret Wood [D-NH]

    NH • D

    Sponsored 3/25/2026

  • Sen. Moody, Ashley [R-FL]

    FL • R

    Sponsored 4/20/2026

Roll Call Votes

No roll call votes available for this bill.

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