Public Unit and Nonmember Shares

Title: Public Unit and Nonmember Shares
Subject: Nonmember deposits
Agency: NCUA
Status: Final rule
Summary:
The NCUA Board (Board) is amending the NCUA’s public unit and nonmember share rule to allow federal credit unions (FCU) to receive public unit and nonmember shares up to 50 percent of the credit union’s net amount of paid-in and unimpaired capital and surplus less any public unit and nonmember shares. This final rule also makes a conforming change to the NCUA’s regulations that apply the public unit and nonmember share limit to all federally insured credit unions (FICUs). The final rule follows publication of a May 30, 2019, proposed rule and takes into consideration the public comments received on the proposed rule.
FR Doc:
Date proposed: May 23, 2019
Comments due date:

July 29, 2019

Final rule effective date: Jan. 29, 2020
Rule compliance date:
Agency release:

Related Reg Report item(s):

More public unit and nonmember shares would be OK for credit unions under NCUA proposed rule

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