Sunset Commission Meeting

The agenda and decision materials for the Sunset Commission meeting scheduled for December 11, 2024, are now available.

Credit Union Department

Previous Sunset reports on this agency

  • Next Review Date: 2034-2035 Review Cycle - 94th Legislative Session

  • Last Review Cycle: 2020-2021 Review Cycle - 87th Legislative Session

Sunset Documents for 2020-2021 Review Cycle, 87th Legislative Session

Legislative Documents

Final Results of Last Sunset Review

Continue
  • Continue the Credit Union Department for 12 years.
Complaints
  • Require the department to track more comprehensive complaint and enforcement data to support analysis and guide regulatory activities.
  • Direct the department to regularly analyze and report on complaint and enforcement data and trends. (Management action – nonstatutory)
  • Direct the department to establish clear procedures for processing and investigating all complaints it receives. (Management action – nonstatutory)
  • Direct the department to disclose summary complaint resolution information to complainants and document final disposition. (Management action – nonstatutory)
  • Direct the department to develop a penalty matrix. (Management action – nonstatutory)
  • Direct the department to more clearly communicate its authority, processes for investigating complaints, and complaint determinations (Management action – nonstatutory)
  • Direct the department to incorporate examiners’ review of all jurisdictional complaints into the credit union examination process. (Management action – nonstatutory)
Fees and Budgeting
  • Direct the Credit Union Commission to implement a more streamlined and reliable fee assessment policy and process. (Management action – nonstatutory)
  • Direct the commission to update its reserve fund policy to address long-term capital funding needs and maintain an adequate reserve balance.
  • (Management action – nonstatutory)
  • Direct the commission to implement an independent audit process for the department. (Management action – nonstatutory)
Communications
  • Require the department to develop a process for notifying credit unions about federal regulatory changes that override state regulations.
  • Direct the department to regularly update its website content. (Management action – nonstatutory)
Governance
  • Eliminate the statutory notarization requirement for articles of incorporation in new charter applications.
  • Update the standard across-the-board requirement related to board member training.
  • Update the standard across-the-board requirement related to developing and maintaining a complaints system and making information on complaint procedures available to the public. Specify the department may not inform parties of the status of complaints if doing so would jeopardize an ongoing investigation.