Governor Signs Bill Updating Montana Act

Following passage in both houses of the state legislature, House Bill 319 which generally clarifies, supplements, and updates the Montana state Credit Union Act has been signed into law by Gov. Judy Martz. According to the Montana CU Network, the bill also updates the law to provide more flexibility in the internal governance of CUs, gives the state regulator more flexibility in handling troubled credit unions to avoid unnecessarily harsh remedies, and further clarifies and modernizes language, fills in numerous gaps, and removes inconsistencies with other state laws and federal laws. "Montana's state-chartered credit union's members are the winners today," said MCUN CEO Tracie Kenyon Karls.