Bank Conversions and Mergers, 12 CFR Part 708a

Part 708a of NCUA’s Rules and Regulations covers the conversion of federally insured credit unions (credit unions) to mutual savings banks (MSBs) and mergers of credit unions into both mutual and stock banks (banks). Part 708a requires credit unions that intend to convert to MSBs or merge into banks to provide notice and disclosure of their intent to convert or merge to their members and NCUA, and to conduct a membership vote. In addition, Subpart C requires credit unions that intend to merge into banks to determine the merger value of the credit union. The information collection allows NCUA to ensure compliance with statutory and regulatory requirements for conversions and mergers and ensures that members of credit unions have sufficient and accurate information to exercise an informed vote concerning a proposed conversion or merger.

The latest form for Bank Conversions and Mergers, 12 CFR Part 708a expires 2022-10-31 and can be found here.

12 CFR 708a, Subpart A - Conversion of Insured Credit Unions to Mutual Savings Banks

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