RS27594 / S1301
This bill updates and modernizes the investment, lending, and fixed asset provisions of the Idaho Credit Union
Act (ICUA). The legislation provides flexibility and modern provisions to allow Idaho state-chartered credit
unions to better serve their members. The following updates are made to the ICUA in this legislation:
• Clarifies requirements and provides more flexibility for credit unions that acquire and hold fixed
assets, as well as provides guidelines for the disposal of acquired assets;
• Provides flexibility for individual Idaho credit unions to determine the best overall mixture of fixed assets;
• Reorganizes the lending section of the ICUA to keep pace with modernized lending
requirements within the marketplace;
• Provides clarity and regulation alignment for credit unions who wish to work
collaboratively on loan participations
• Updates and clarifies loan maturity limits, while aligning when the Idaho Department
of Finance (IDOF) can require an appraisal on a loan;
• Modernizes investment practices to align with the flexibility being offered to federally-chartered
credit unions regulated by the National Credit Union Administration (NCUA);
• Provides additional government-backed investment vehicles to allow for more flexible
investments for state-chartered credit unions; and
• Updates the authority to invest in Credit Union Service Organizations (CUSO),
which aligns with NCUA regulations.
There will be no fiscal impact to the General Fund associated with this proposed legislation. The provisions
of this legislation specifically relate to the investments and lending practices of state-chartered credit unions
and will require no additional resources of the IDOF, nor will it increase or decrease the IDOF's revenues or
Ryan Fitzgerald, NW Credit Union Association
(208) 860-8072
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 02/06/2020, 3:57 PM

Statutes affected:
Bill Text: 26-2106, 26-2109, 26-2119, 26-2120, 26-2127, 26-2130, 26-2133