Bill · S. 4808· Senate(119-S-4808)
Privately Insured Credit Unions Conversion Modernization Act
- Introduced
- 6/17/2026
- Last activity
- 6/17/2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Catherine Cortez Masto
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill is called the "Privately Insured Credit Unions Conversion Modernization Act". It seeks to amend the Federal Credit Union Act regarding conversion modernization for privately insured credit unions. Specifically, it removes the requirement for a vote to have at least 20 percent of the total membership participate. It also changes the notice period for these actions to be not less than 90 days.
Yes
Would business owners be better off under this?+2
Simplifies the conversion process for credit union administrators and owners.
Does this make it easier to run a small business?+1
Streamlines conversion processes for privately insured credit unions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Updated Notice Period: By changing the notice requirement to "not less than 90 days" in Section 2, members may have more time to be informed about conversions.
Potential Negative Impacts for People
- Removal of Participation Threshold: Section 2 strikes the requirement that a vote must have "at least 20 per centum of the total membership" participate, which removes a specific minimum participation requirement for these votes.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+2
- Economy And Finance
- Improves Small Business Support+1
- 6/17/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Bernie MorenoRepublican · Ohio