Credit Union Board Modernization Act
Sponsored By: Senator Bill Hagerty
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.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
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
Bill Hagerty
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
John Hoeven
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
Amy Klobuchar
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
John Boozman
AR • R
Sponsored 4/4/2025
Katie Britt
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
Mike Rounds
SD • R
Sponsored 4/30/2025
Sen. Warner, Mark R. [D-VA]
VA • D
Sponsored 4/30/2025
Dan Sullivan
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
Gary Peters
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
John Hickenlooper
CO • D
Sponsored 7/21/2025
Elissa Slotkin
MI • D
Sponsored 8/1/2025
Sen. Blackburn, Marsha [R-TN]
TN • R
Sponsored 9/9/2025
Shelley Capito
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
Raphael Warnock
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
Peter Welch
VT • D
Sponsored 3/4/2026
Roger Wicker
MS • R
Sponsored 3/5/2026
Cindy Hyde-Smith
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.
View on Congress.gov