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Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
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The NCUA protects the safety and soundness of the credit union system by identifying, monitoring and reducing risks to the National Credit Union Share Insurance Fund. Backed by the full faith and credit of the United States, the Share Insurance Fund provides up to $250,000 of federal share insurance to millions of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.
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The NCUA provides a number of support services to the credit union system, such as providing training, grants and loans, chartering, and field-of-membership services; maintaining the health and stability of Share Insurance Fund; managing the assets of failed credit unions; and providing emergency liquidity.
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Cybersecurity Resources
Cybersecurity Resources
Cyberattacks and cybersecurity vulnerabilities pose significant risks to the financial system. Because of vulnerabilities within the credit union industry and the broader financial system to potential cyberattacks, cybersecurity is one of the NCUA’s top supervisory priorities and a top-tier risk under the agency’s enterprise risk-management program.

Nonstandard Bylaw Amendment

89-0607 / June 1989

Subject

Bylaws

Historic Status

Non-historic

GC/MM:sg
3701

[redacted]

FROM: Assistant General Counsel
Hattie M. Ulan

SUBJ: [redacted] Nonstandard Bylaw Amendment
(Your May 23, 1989, Memo)

DATE: June 7, 1989

You have asked that we comment on a proposed nonstandard bylaw amendment submitted by [redacted]. The proposed amendment to Article VI, Section 2, of the FCU Bylaws provides for the distribution of ballots prior to the opening of the annual meeting and for nominations by petition since the Credit Union does not want nominations from the floor. In addition, the Credit Union will also adopt the standard amendments to Article V, Section 2, and Article VI, Section 1. As you point out, this is necessary before the proposed nonstandard bylaw amendment can be approved. we have no objection to the approval of the proposed nonstandard amendment and the course of action you propose.

Last modified on

11/14/24

Nonstandard Bylaw Amendment

Footnotes