PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in House · Jul 12, 2005
Credit Union Charter Choice Act - Amends the Federal Credit Union Act to repeal requirements governing oversight by the National Credit Union Administration of the member vote concerning charter conversions of credit unions to mutual savings banks or savings associations.
Revamps requirements governing credit union notification to the National Credit Union Administration Board of intent to convert to a mutual savings bank or savings association.
Sets forth a Board approval process regarding materials submitted by converting credit unions in connection with such conversions.
Requires the member vote on a proposed conversion to be conducted by secret ballot, with an independent inspector of elections appointed by the converting credit union to receive and tally the votes. Requires the board of directors of the converting credit union to certify vote results to the Board. Denies the Board any further review or approval authority over the conversion process, absent fraud or reckless disregard for fairness during the voting process that affects the vote outcome.
People & committees
Rep. McHenry, Patrick T. [R-NC-10] · R–NC
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Subcommittee Hearings Held.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.
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