WASHINGTON - Among the provisions included in the Credit Union Regulatory Improvement Act are some designed to “fix” problems created by H.R. 1151, though some of them are not related to that landmark bill. The primary goals of CURIA are to:
* Enact risk-based capital system for credit unions;
* Lift limit on member business loans from the current 12.25% of assets to 20%;
* Allow community chartered credit unions to add an underserved community to their field of membership. Multiple group and single group credit unions already can.
* Allow credit unions that convert to community charters to retain their select employee groups;
* Require at least 30% of members vote in a ballot to convert a credit union to a mutual savings bank.
