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Contact Us
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1220 West Third St. Little Rock, AR 72201
Phone: 501.376.3741
Fax: 501.376.9243
Email Us
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News Center - Credit Union Watch |
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June 28, 2011
Wisconsin Budget Provision Streamlines CU Conversions
Wisconsin Gov. Scott Walker (R) on Sunday signed the state budget bill that includes a provision intended to make it easier for credit unions to convert to banks. The provision, which the Wisconsin Bankers Association strongly supported, will require that a majority of a credit union’s voting members approve a conversion to a bank -- instead of a majority of all the credit union’s members.
The measure also will allow credit unions to convert directly to stock-owned banks, bypassing the current intermediate step of converting to mutual savings banks. The provision had been included in last year’s state budget bill, but former Gov. James Doyle (D) vetoed it. Read the provision’s legislative language. For more information, contact
AmBA
's Keith Leggett.
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