Federal Register #NCUA-2026-1887

NCUA proposes removing an outdated rule on federal share insurance after credit union charter conversion

The National Credit Union Administration (NCUA) is proposing a technical change to a rule governing federal share insurance after credit union charter conversion. - Government buyer: National Credit Union Administration (NCUA), including its Office of Credit Union Resources and Expansion (CURE). - Proposed action: Remove 12 CFR 741.7, an outdated and duplicative provision concerning continued federal share insurance when a federal credit union converts to a state charter. - Ongoing process: The process will continue to be governed by the NCUA Chartering and Field of Membership Manual, including submission of requests to CURE. - Opportunity type: Public comment on a proposed regulatory change; this is not a procurement for products or services. - OEMs, vendors, products, quantities, and part numbers: None identified.

Description

The National Credit Union Administration Board proposes to remove an outdated regulatory provision concerning the process for maintaining federal share insurance when a federal credit union converts to a state charter. The provision is duplicative of the NCUA Chartering and Field of Membership Manual and has been superseded by amendments to that Manual. The proposed change is technical and nonsubstantive; the existing process will continue to be governed by the Manual. Comments must be received by December 21, 2026.

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