US Congress · 119th Congress (2025-2026)

HR 975In Second Chamber

Credit Union Board Modernization Act

Source of recordUS Congress · congress.govLast synced Jul 20, 2026

Chamber

House

Progress

Where this bill stands in the legislative process.

Introduced
Passed House
Passed Senate
To President
Became Law

Overview

This bill changes the requirements for how often credit union boards of directors must meet. It lowers the meeting frequency for newly formed credit unions and those with low financial ratings, requiring them to meet at least monthly. Other credit unions must hold at least six meetings per year, with one meeting in each fiscal quarter. The changes aim to provide more flexibility for smaller or less stable credit unions while maintaining oversight for those with stronger financial standing.

Key provisions

Reduces the required meeting frequency for de novo credit unions to at least monthly for the first five years.
Requires credit unions with a composite rating of 1 or 2 under the Uniform Financial Institutions Rating System to meet at least monthly.
Sets a minimum annual meeting requirement of six meetings for all credit unions.
Requires at least one meeting to be held during each fiscal quarter.
Specifies meeting frequency based on credit union composite rating (1-5) and management capability rating (1-5).

Who is affected

Credit Unions
New Credit Unions
Credit Unions with Low Financial Ratings

Notable changes

Changes the frequency of board meetings based on credit union rating and status.
Introduces a tiered meeting frequency system based on financial performance.

Bill text

Read the latest version inline or switch to a previous version.

Feb 4, 2025XMLView source

Text extraction is in progress. View the official source.

Legislative history

10 recorded actions

Feb 4, 2025House

Referred to the House Committee on Financial Services.

Feb 4, 2025

Introduced in House

Feb 4, 2025

Introduced in House

Feb 10, 2025House

Motion to reconsider laid on the table Agreed to without objection.

Feb 10, 2025House

On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)

Feb 10, 2025

Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)

Feb 10, 2025House

DEBATE - The House proceeded with forty minutes of debate on H.R. 975.

Feb 10, 2025House

Considered under suspension of the rules. (consideration: CR H601-603)

Feb 10, 2025House

Mr. Hill (AR) moved to suspend the rules and pass the bill.

Feb 11, 2025Senate

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Votes

Recorded roll calls and chamber actions on this bill.

Passage without roll call

The official record shows passage by unanimous consent or voice vote where no roll call was taken. No member-level tally is available for these steps, and the district map does not apply.

2/10/2025HouseVoice vote
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
No roll-call vote on record for this action.
2/10/2025Voice vote
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
No roll-call vote on record for this action.

Floor votes and chamber actions

Recorded roll calls list how each member voted. Unanimous consent or voice vote appears in the official action history without a roll call; no member-level tally is available for those steps.

Passage without roll call

Feb 10, 2025HouseVoice vote
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
No roll-call vote on record for this action.
Feb 10, 2025Voice vote
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
No roll-call vote on record for this action.

Geography

Recorded positions across the country.

No public positions recorded for this legislation.

Arguments

Reasons offered for and against this legislation.

Arguments in favor

No arguments in favor have been submitted.

Submit yours

Arguments opposed

No arguments opposed have been submitted.

Submit yours

Credit Union Board Modernization Act

Progress