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Privately Insured Credit Unions Conversion Modernization Act

To amend the Federal Credit Union Act with respect to conversion modernization for privately insured credit unions.

Introduced Jun 17, 2026

Latest action (Jun 17, 2026) Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Referred to
Banking, Housing, and Urban Affairs Committee
Policy area
Finance and Financial Sector
Issues
Economy & TaxesLabor & Wages

Summary
  • The bill modifies Federal Credit Union Act requirements for privately insured credit unions that are converting their insurance status.
  • The bill removes a minimum membership participation threshold that previously required at least 20 percent of members to vote on the conversion.
  • The bill increases the minimum voting period for conversion decisions from seven days to 90 days.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
1 cosponsor

Actions (2)
  1. Jun 17, 2026 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
  2. Jun 17, 2026 Introduced in Senate

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • HR 9900 — Privately Insured Credit Unions Conversion Modernization Act · Introduced Jul 23, 2026 · Cong. 119 84%
  • S 3616 — Expanding Access to Lending Options Act · Introduced Jan 13, 2026 · Cong. 119 55%
  • HR 4244 — Prohibition of Medicaid Funding for Conversion Therapy Act · Introduced Jun 27, 2025 · Cong. 119 53%
  • S 3575 — NCUA Central Liquidity Facility Enhancements Act · Introduced Dec 18, 2025 · Cong. 119 52%
  • HR 1791 — Increasing Credit Union Lending for Business Growth Act · Introduced Mar 3, 2025 · Cong. 119 52%
  • S 2419 — Business of Insurance Regulatory Reform Act of 2025 · Introduced Jul 23, 2025 · Cong. 119 50%

Text versions (1)
  • Introduced in Senate · Jun 17, 2026

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

IN THE SENATE OF THE UNITED STATES

June 17, 2026

Ms. Cortez Masto (for herself and Mr. Moreno) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Federal Credit Union Act with respect to conversion modernization for privately insured credit unions.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Privately Insured Credit Unions Conversion Modernization Act”.

SEC. 2. CONVERSION MODERNIZATION FOR PRIVATELY 6 INSURED CREDIT UNIONS.

Section 206(d)(2) of the Federal Credit Union Act (12 U.S.C. 1786(d)(2)) is amended—

(1) in the first sentence, by striking “in a vote in which at least 20 per centum of the total membership of the credit union participates”; and

(2) in the second sentence, by striking “not more than thirty nor less than seven days” and inserting “not less than 90 days”. <all>

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