The NCUA is revising its rules that govern the conversion of insured credit unions to mutual savings banks or savings associations, if the savings associations are in mutual form. These revisions will simplify the charter conversion process and reduce regulatory burden for insured credit unions that choose to convert. NCUA is making these revisions in compliance with recent federal legislation that mandates such revisions.
Agency Contact: Frank S. Kressman, Staff Attorney,
This rule is final. Its effective date is November 27, 1998.