Effective date of amendments to NCUA public unit and nonmember share rule

The NCUA Board published [84 FR 58305] in the October 31, 2019, Federal Register a final rule amending the NCUA’s public unit and nonmember share rule to allow federal credit unions (FCU) to receive public unit and nonmember shares up to 50 percent of the credit union’s net amount of paid-in and unimpaired capital and surplus less any public unit and nonmember shares. The rule also makes a conforming change to the NCUA’s regulations that apply the public unit and nonmember share limit to all federally insured credit unions (FICUs). The amendments will be effective January 29, 2020.