Advocacy win: Credit Union Board Modernization Act becomes law

July 13, 2026

The Credit Union Board Modernization Act automatically became law at midnight Eastern Saturday, 10 days after Speaker of the House Mike Johnson (R-LA) sent the bill as part of the 21st Century ROAD to Housing Act to the White House. President Donald Trump chose not to sign or veto the legislation.

“America’s Credit Unions, our League partners, and credit unions nationwide have been steadfast in their commitment to advancing the Credit Union Board Modernization Act. Through strong relationships with congressional champions and relentless, unified advocacy, we built the broad bipartisan support necessary to carry this legislation forward,” said America’s Credit Unions President/CEO Scott Simpson. “We extend our sincere gratitude to the Senate Banking and House Financial Services Committees’ members, who led efforts on this housing package. Meaningful policy progress requires sustained effort and thoughtful dialogue, and we appreciate the commitment from the Trump Administration and lawmakers who heed the needs of the American public and push forward practical, common-sense solutions.”

The 21st Century ROAD to Housing Act contains the Credit Union Board Modernization Act, which grants federal credit unions the flexibility to meet at least six times per year, instead of requiring meetings once per month.

It also contains language to:

  • Empower minority depository institutions and other smaller credit unions to collaborate with larger credit unions in mentorship efforts (the Mentor-Protégé Program for Small Financial Institutions Act); and
  • Promote the formation of de novo credit unions and other community banks by streamlining the federal application process (American Access to Banking Act).

The bipartisan housing package was spearheaded by Senate Banking Committee Chair Tim Scott (R-SC), Ranking Member Elizabeth Warren (D-MA), House Financial Services Committee Chair French Hill (R-AR), and Ranking Member Maxine Waters (D-CA).  

The Senate and House passed the bill with back-to-back votes in late June. Steadfast credit union advocacy in the 119th Congress ensured key credit union regulatory provisions were included and remained in the bill throughout the process.