WASHINGTON, DC (June 22, 2026) |
Today, the Defense Credit Union Council (DCUC) submitted a comment letter to the National Credit Union Administration (NCUA) in response to the agency's proposed rule amending regulations governing the merger of federally insured credit unions into banks.
In its comments, DCUC expressed support for the NCUA Board's efforts to eliminate outdated and unnecessary regulatory requirements while emphasizing that member transparency and board accountability should remain central to transactions that fundamentally change a credit union's ownership structure.
DCUC supported several of the proposed updates, including eliminating the requirement to publish merger notices in newspapers of general circulation, removing outdated formatting requirements, and relocating non-binding voting guidance outside of regulation. However, DCUC urged the NCUA to retain the existing definition of "clear and conspicuous," noting that it provides objective standards that help credit unions satisfy member disclosure requirements.
Additionally, DCUC recommended preserving disclosure requirements explaining how a credit union's board identified a merger partner and negotiated the merger agreement, stating that this information is critical for helping members and regulators evaluate whether a proposed transaction is in the best interests of the membership.
DCUC remains committed to working with the NCUA to advance balanced regulatory reforms that reduce unnecessary burdens while protecting credit union members and strengthening the cooperative financial system.