CORRECTION: CU Conversions To Banks

Register now

ALEXANDRIA, Va. – A story in last Thursday’s Credit Union Journal Special Bulletin about NCUA’s new rules requiring financial literacy training for directors incorrectly stated the rule also requires credit unions converting to banks to notify members about the possibility of a liquidating dividend instead of conversion. That provision only applies to when a credit union is being purchased by a bank.

For reprint and licensing requests for this article, click here.