Privately Insured Credit Unions Conversion Modernization Act

This bill modifies the Federal Credit Union Act to update the rules for privately insured credit unions converting to federal insurance. It requires a higher participation threshold of 20 percent of the membership to vote on such conversions and extends the minimum notice period from seven to ninety days. These changes aim to modernize the conversion process by ensuring broader member involvement and providing more time for preparation. The legislation directly affects privately insured credit unions seeking to transition to federal insurance coverage.