# Virginia HB902: Financial institutions; out-of-state credit unions.

Virginia HB902, Financial institutions; out-of-state credit unions., is a 2026 Regular Session House bill sponsored by Alfonso H. Lopez (Democratic); status signed, last action 2026-04-13 (Acts of Assembly Chapter text (CHAP0700)); PRIA reads it as touching household money (as of 2026-10-12).

- Canonical: https://policyrisk.com/state-bill/VA-HB902-2026
- As of: 2026-10-12
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia HB902
- State: Virginia
- Session: 2026 Regular Session
- Title: Financial institutions; out-of-state credit unions.
- Status: signed
- Chamber: House
- Introduced: 2026-01-13
- Last action: 2026-04-13, Acts of Assembly Chapter text (CHAP0700)
- Sponsor: Alfonso H. Lopez (Democratic)
- Cosponsors: 0
- Touches household money: yes
- Roll calls: 8 (319 yes, 0 no in all)
- Economic provisions PRIA read: 2

## Summary

Financial institutions; out-of-state credit unions. Clarifies that the National Credit Union Administration is not required to designate an agent for service of process and agree that in the absence of such designation service may be upon the clerk of the State Corporation Commission. Current law requires out-of-state credit unions conducting business in the Commonwealth to have any insurer of shares designate such an agent and agree to such service in the absence of such a designation.

## Bill overview: provisions PRIA read

- More credit union options for Virginians: benefit, low. The law lets out-of-state credit unions open offices in Virginia with State Corporation Commission approval. Approval requires share insurance, home-state supervision, a filed application, reciprocity with Virginia, and a clear need to serve Virginia members. Once approved, they must follow Virgini…
- Virginia credit unions can open out-of-state offices: benefit, low. Virginia credit unions can open offices outside the Commonwealth with Commission approval. A credit union must apply and get approval before opening an out-of-state branch. This helps Virginia-based credit unions serve members who live or work outside Virginia.

## Sponsors and cosponsors

- Sponsor: Alfonso H. Lopez (Democratic), House

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-02-26 | Senate | Passed Senate Block Vote | pass | 40 | 0 |   |
| 2026-02-25 | Senate | Passed by for the day Block Vote (Voice Vote) | pass | 0 | 0 |   |
| 2026-02-25 | Senate | Constitutional reading dispensed Block Vote (on 2nd reading) | pass | 40 | 0 |   |
| 2026-02-23 | Senate | Reported from Commerce and Labor | pass | 14 | 0 |   |
| 2026-02-11 | House | Read third time and passed House Block Vote | pass | 96 | 0 |   |
| 2026-02-11 | House | Passed House Block Vote | pass | 98 | 0 |   |
| 2026-02-05 | House | Reported from Labor and Commerce | pass | 22 | 0 |   |
| 2026-02-03 | House | Subcommittee recommends reporting | pass | 9 | 0 |   |

## Actions (28)

- 2026-04-13: Acts of Assembly Chapter text (CHAP0700) (Governor)
- 2026-04-13: Approved by Governor-Chapter 700 (effective 7/1/2026) (Governor)
- 2026-03-10: Governor's Action Deadline 11:59 p.m., April 13, 2026 (Governor)
- 2026-03-10: Enrolled Bill communicated to Governor on March 10, 2026 (House)
- 2026-03-09: Fiscal Impact Statement from State Corporation Commission (HB902) (House)
- 2026-03-03: Bill text as passed House and Senate (HB902ER) (House)
- 2026-03-03: Enrolled (House)
- 2026-03-03: Signed by President (Senate)
- 2026-03-03: Signed by Speaker (House)
- 2026-02-26: Passed Senate Block Vote (40-Y 0-N 0-A) (Senate)
- 2026-02-26: Read third time (Senate)
- 2026-02-25: Passed by for the day Block Vote (Voice Vote) (Senate)
- 2026-02-25: Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A) (Senate)
- 2026-02-25: Rules suspended (Senate)
- 2026-02-23: Reported from Commerce and Labor (14-Y 0-N) (Senate)
- 2026-02-12: Referred to Committee on Commerce and Labor (Senate)
- 2026-02-12: Constitutional reading dispensed (on 1st reading) (Senate)
- 2026-02-11: Passed House Block Vote (98-Y 0-N 0-A) (House)
- 2026-02-11: Reconsideration of passage agreed to by House (House)
- 2026-02-11: Read third time and passed House Block Vote (96-Y 0-N 0-A) (House)
- 2026-02-10: Read second time and engrossed (House)
- 2026-02-09: Read first time (House)
- 2026-02-05: Reported from Labor and Commerce (22-Y 0-N) (House)
- 2026-02-03: Subcommittee recommends reporting (9-Y 0-N) (House)
- 2026-01-25: Fiscal Impact Statement from State Corporation Commission (HB902) (House)
- 2026-01-22: Assigned HCL sub: Subcommittee #1 (House)
- 2026-01-13: Referred to Committee on Labor and Commerce (House)
- 2026-01-13: Prefiled and ordered printed; Offered 01-14-2026 26103287D (House)

## Bill text

- Chaptered, 2026-04-13: [HTML](https://lis.blob.core.windows.net/files/1222263.HTML), [PDF](https://lis.blob.core.windows.net/files/1222262.PDF)
- Enrolled, 2026-03-03: [HTML](https://lis.blob.core.windows.net/files/1187092.HTML), [PDF](https://lis.blob.core.windows.net/files/1187091.PDF)
- Introduced, 2026-01-13: [HTML](https://lis.blob.core.windows.net/files/1086377.HTML), [PDF](https://lis.blob.core.windows.net/files/1086376.PDF)

## Related bills

- HB5: Employment; paid sick leave, civil penalties. (signed)
- SB199: Employment; paid sick leave, civil penalties. (signed)
- HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed)
- HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed)
- HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed)
- HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed)

## Sources
- [Chaptered (HTML)](https://lis.blob.core.windows.net/files/1222263.HTML)
- [Chaptered (PDF)](https://lis.blob.core.windows.net/files/1222262.PDF)
- [Enrolled (HTML)](https://lis.blob.core.windows.net/files/1187092.HTML)
- [Enrolled (PDF)](https://lis.blob.core.windows.net/files/1187091.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1086377.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1086376.PDF)

## Related
- [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026)
- [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026)
- [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026)
- [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026)
- [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026)
- [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
- [Virginia state hub](https://policyrisk.com/states/virginia)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/VA-HB902-2026 (as of 2026-10-12).