NCUA Extends Federal Credit Union Meeting Flexibility Through 2022 Due to the COVID-19 Pandemic

NCUA is extending the flexibility for federal credit unions to conduct meetings virtually in 2022.

As previously provided, a federal credit union may adopt at any time, by a two-thirds vote of its board of directors, the following bylaw amendment to Article IV without additional approvals by the NCUA:

Section 6. Emergency exception to in-person quorum requirement. This credit union may hold its annual meeting of the members, the required in-person regular meeting of the board of directors under Article VI, and special member meetings for authorized purposes other than member expulsion under Article XIV of these bylaws, virtually and without an in-person quorum if all of the following conditions apply and are certified in meeting minutes by a resolution of the majority of a quorum of the board of directors:

• At least one of the following is located in an area where a federal, state, or local authority has declared a state of emergency or major disaster:
  1. all or part of a community the credit union serves; or
  2. the credit union’s headquarters.
• The credit union has the technological capacity to facilitate virtual meeting attendance, voting, and participation.
• Members receive at least seven days advance notice of the change of a member meeting to a virtual meeting format and appropriate instructions for how to join, participate, and vote during the virtual meeting.
• The NCUA has issued general or specific guidance notifying the credit union that it is appropriate to invoke this bylaw provision.

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