Credit Union Board Modernization Act

This bill changes how often federal credit unions must hold board meetings based on their performance ratings. For all federal credit unions, boards must meet at least monthly for the first 5 years after their charter is approved. After that, credit unions rated 1 or 2 (highest performance) must meet at least 6 times yearly (with one per quarter), while those rated 3-5 must meet monthly. The bill directly affects all federal credit unions by adjusting their board meeting requirements according to their Uniform Financial Institutions Rating System score. These changes aim to align meeting frequency with credit union performance and oversight needs.