Mergers or Conversions of Federally-Insured Credit Unions: NCUA Approval

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The NCUA is adopting a new rule, part 708a, to clarify that the NCUA Board must approve any merger or conversion of a federally insured credit union to any non credit union institution. The Board also requests additional comment on a number of issues related to the circumstances under which these transactions should be approved and related to protecting the interests of credit unions and their membership.