NCUA Announces Annual Meeting Flexibility

March 2020

ALEXANDRIA, Va. (March 20, 2020) – The National Credit Union Administration today issued Letter to Federal Credit Unions, 20-FCU-02, NCUA Actions Related to COVID-19 – Annual Meeting Flexibility, announcing greater flexibility in conducting annual meetings.

Due to the national emergency proclamation issued by President Donald J. Trump on March 13, 2020, effective immediately, a federal credit union may adopt by a two-thirds vote of its Board of Directors an amendment to Article IV without undergoing further bylaw approval processes with the NCUA.

The full letter is available in the Letters to Credit Unions and Other Guidance section of NCUA.gov.

The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.