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NCUA Announces Expiration of Emergency Exemption from Certain In-Person Meeting Requirements

Beginning January 1, 2023, federal credit unions can no longer hold “virtual-only” annual meetings, but hybrid meetings will be allowed.

In 2020 and 2021, the NCUA issued three letters to federal credit unions providing flexibility during the pandemic related to annual meetings. Ackowledging that the COVID-19 pandemic had created challenges for federal credit unions and their members, the NCUA provided federal credit unions with the flexibility to conduct their membership and board of director meetings completely virtually. This emergency exemption will expire on December 31, 2022.

Beginning January 1, 2023, NCUA’s Federal Credit Union Bylaws will continue to permit federal credit union boards to conduct “virtual-only” meetings for all but one of their board meetings per calendar year. As long as a quorum of the directors is physically present at the one required in-person meeting, then the remaining directors may attend that meeting virtually. 

Read the Letter to Federal Credit Unions

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