The Federal Credit Union Act imposes just two basic conditions on a state chartered credit union that wishes to convert to federal charter (1) demonstrate compliance with state law and (2) file an organization certificate with NCUA.
NCUA’s chartering rules impose significant additional conditions. Those conditions are set forth in Chapter 4, Subchapter II of the chartering rules, codified at 12 CFR Part 701, Appendix B. The numerous required forms are found on pages 3-24 of this document.
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