US Code

Public Law 119-73 (01/23/2026)

12 U.S.C. § 1751

Short title

This chapter may be cited as the “Federal Credit Union Act”.

June 26, 1934, ch. 750, § 148 Stat. 1216Pub. L. 86–354, § 173 Stat. 628(, ; , , .)

Editorial Notes

Amendments

Pub. L. 86–3541959— reen acted section without change.

Statutory Notes and Related Subsidiaries

Short Title of 2022 Amendment

Pub. L. 117–103, div. T, § 101136 Stat. 823

section 1764 of this title“This division [amending ] may be cited as the ‘Credit Union Governance Modernization Act of 2022’.”
, , , provided that:

Short Title of 2014 Amendment

Pub. L. 113–252, § 1128 Stat. 2893

section 1787 of this title“This Act [amending ] may be cited as the ‘Credit Union Share Insurance Fund Parity Act’.”
, , , provided that:

Short Title of 1998 Amendment

Pub. L. 105–219, § 1(a)112 Stat. 913

section 1762 of this title“This Act [enacting sections 1757a and 1790d of this title, amending sections 1752a, 1759, 1782, and 1784 to 1787 of this title, repealing , and enacting provisions set out as notes under this section and sections 1752a, 1757a, 1759, 1790d, 4801, and 4803 of this title] may be cited as the ‘Credit Union Membership Access Act’.”
, , , provided that:

Short Title of 1987 Amendment

Pub. L. 100–86, title VII, § 701101 Stat. 652

section 1772c of this title“This title [enacting and amending sections 1757, 1761a, 1761b, 1764, 1766, 1767, and 1786 to 1788 of this title and sections 45, 46, and 57a of Title 15, Commerce and Trade] may be cited as the ‘Credit Union Amendments of 1987’.”
, , , provided that:

Short Title of 1978 Amendment

Pub. L. 95–630, title XVIII, § 180192 Stat. 3719

section 1757 of this titlesection 709 of Title 18“This title [enacting subchapter III of this chapter and amending , , Crimes and Criminal Procedure, and section 856 of former Title 31, Money and Finance] may be cited as the ‘National Credit Union Central Liquidity Facility Act’.”
, , , provided that:

Congressional Findings

Pub. L. 105–219, § 2112 Stat. 913

“The Congress finds the following:
“(1)
The American credit union movement began as a cooperative effort to serve the productive and provident credit needs of individuals of modest means.
“(2)
Credit unions continue to fulfill this public purpose, and current members and membership groups should not face divestiture from the financial services institution of their choice as a result of recent court action.
“(3)
To promote thrift and credit extension, a meaningful affinity and bond among members, manifested by a commonality of routine interaction, shared and related work experiences, interests, or activities, or the maintenance of an otherwise well-understood sense of cohesion or identity is essential to the fulfillment of the public mission of credit unions.
“(4)
Credit unions, unlike many other participants in the financial services market, are exempt from Federal and most State taxes because they are member-owned, democratically operated, not-for-profit organizations generally managed by volunteer boards of directors and because they have the specified mission of meeting the credit and savings needs of consumers, especially persons of modest means.
“(5)
Improved credit union safety and soundness provisions will enhance the public benefit that citizens receive from these cooperative financial services institutions.”
, , , provided that:

Transfer of Functions

section 3508 of Title 20Secretary and Department of Health, Education, and Welfare redesignated Secretary and Department of Health and Human Services by , Education.

Executive Documents

Transfer of Functions

act June 29, 1948, ch. 71162 Stat. 109167 Stat. 632section 1752a of this titleTransfer of functions of Farm Credit Administration and Governor thereof to Bureau of Farm Credit Unions and Director thereof under jurisdiction of Federal Security Agency by , §§ 1, 2, , and abolishment of Agency and transfer of its functions to Department of Health, Education, and Welfare by Reorg. Plan No. 1 of 1953, § 5, eff. , 18 F.R. 2053, , see , and notes thereunder.

61 Stat. 952Functions of Farm Credit Administration and Governor thereof under this chapter, together with functions of Secretary of Agriculture with respect thereto, transferred to Federal Deposit Insurance Corporation by Reorg. Plan No. 1 of 1947, § 401, eff. , 12 F.R. 4534, , set out in the Appendix to Title 5, Government Organization and Employees. A similar transfer of functions for duration of World War II was effected by Ex. Ord. No. 9148, , 7 F.R. 3145.

53 Stat. 1429Farm Credit Administration transferred to Department of Agriculture by Reorg. Plan No. I of 1939, § 401, eff. , 4 F.R. 2730, , set out in the Appendix to Title 5.