Credit Unions - Mergers and Consolidations - Alteration of Voting Requirement

New merger voting rules for credit unions

Beginning October 1, 2026, credit unions follow new merger approval rules. A majority of each merging credit union’s board must agree to the plan. Members of any absorbed credit union must approve by a majority of votes cast, unless the Commissioner waives this or sets another method. Members of the surviving credit union no longer need to give an affirmative majority vote. The surviving board can set the member vote date at an annual or special meeting or by mail ballot. Merger or consolidation certificates can omit member vote dates and counts when member approval is not required and not obtained; otherwise they must list the board meeting, board vote, and, unless the Commissioner says otherwise, the member approval date and vote.