California’s Credit Unions has developed a Charter Conversion Toolkit as an informational resource for credit unions seeking to better understand the charter conversion process and the differences between California state and federal charters.
The toolkit includes an overview of the applicable procedures under the National Credit Union Administration’s (NCUA) Chartering and Field of Membership Manual, along with a comparative analysis of selected provisions governing federal and California state-chartered credit unions.
It is designed to provide general information only and is not intended as legal advice or a recommendation regarding any particular charter.
A decision to pursue a charter conversion is one for each credit union’s board of directors based on its unique strategic, operational, and business considerations. Credit unions should consult with their own legal counsel and advisors when evaluating any potential charter change.
For more information, email Lisa Quaranta.
Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:
Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!
Additionally, other League-member compliance resources include:
For more information, email Lisa Quaranta.
Powered by ViClarity, a California’s Credit Unions and Nevada’s Credit Unions company.
