The Northwest Credit Union Association successfully led an effort to enact an update to the Idaho Credit Union Act. The legislation was signed by Gov. Butch Otter, and the provisions will be effective July 1.
The modernization bill comes after an extensive review of the statutes by the Idaho Credit Union--State Issues Working Group, where the NWCUA team identified several areas of the state act that needed to be updated.
NWCUA then worked closely with the Idaho Department of Finance to identify and propose common-sense updates to the act, which will be presented to the legislature for consideration over the next few years.
The initial bill, S.B. 1285, specifically focuses on the internal governance of Idaho credit unions and includes the following statute updates: