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Credit Union Department and Commission (CUD)

    • Next Review Date: 2020-2021 Review Cycle - 87th Legislative Session
    • Last Review Date: 2008-2009 Review Cycle - 81st Legislative Session

    Sunset Review Documents for 2008-2009 Review Cycle, 81st Legislative Session

    Legislative Documents

    Final Results from Last Sunset Report

    The Legislature adopted all of the Sunset Commission’s recommendations and made no additions to House Bill 2735.  The bill continued the Credit Union Department as an independent agency for 12 years, required greater transparency between credit unions and their members, and provided the Department with additional enforcement tools.  The list below summarizes the major provisions of House Bill 2735.

    • Continues the Credit Union Department for 12 years.
    • Requires state-chartered credit unions to provide more information about their financial condition and management to their members.
    • Authorizes the Credit Union Commissioner to issue cease-and-desist orders against unchartered credit unions and to assess late penalties for delinquent operating fees.
    • Requires the Credit Union Commission to adopt rules governing its use of advisory committees.