Removing Barriers Blog

League Supported New Hampshire Credit Union Act Update Becomes Law
Posted July 28, 2015 by CUNA Advocacy

Yesterday, a bill that reorganizes and updates New Hampshire’s Credit Union Act was enacted. The legislation, S 188, clarifies and modernizes the application procedure for establishing a new credit union; provides more advantageous parity provisions; establishes new standards for directors and officers; and creates new articles on meetings, branching, and mergers. The Cooperative Credit Union Association (CCUA) vigorously advocated for the measure and worked closely with the New Hampshire Banking Department to ensure state credit unions have a streamlined framework to operate.

The provisions become effective on October 1, 2015 and the CCUA is planning to host a compliance program to assist credit unions in understanding the new provisions and in maximizing the governance and business opportunities presented.

For more information regarding this legislation, please contact Shelton Roulhac.