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Texas CU Department to Hold Special Meeting Today, Aug. 12
Wednesday, August 12, 2015 7:00 AM

The Credit Union Commission will hold a special meeting today at 11 a.m. at the Credit Union Department to consider proposed new rules that are required to address legislation passed in the most recent legislative session. The Commission members will discuss and possibly vote on the rules addressing contracting with the TCUD and rules to implement HB 1626. 

The meeting agenda, proposed rules and governing legislation can be found here.

HB 1626 calls for the creation of Credit Union Development Districts. The Commission must administer and monitor the program that is intended to encourage branches of credit unions in underserved areas. The program allows a credit union with a local government, municipality, or county to submit an application to the Commission for the designation of a development district. The rules governing the designations must be adopted by Jan. 1, 2016.

State agency contracting came under review in the session and the resulting legislation, SB 20, aims to clarify accountability, increase transparency, and ensure a fair competitive process. The Department is required to develop a risk analysis procedure and identify certain types of contracts for enhanced contract or performance monitoring.

If the rules are published, a 30-day comment period will follow.

Other matters on the agenda are resolutions of appreciation for outgoing industry commissioner Gary L. Janacek and public members Rob Kyker and A. John Yoggerst, and consideration of the chair’s designation of a vice chair and appointments to the Rules and Commissioner Evaluation Committees.

Contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop for more information.