Part 741 Compendium:
Quick Reference to
State Rules Under NCUA
The following is a Compendium of Part 741 of the Code of Federal Regulations (“CFR”). Part741 governs Federally-Insured State-Chartered Credit Unions (“FISCUs”). Part 741 is divided into two subparts. Subpart A contains regulations that apply directly to FISCUs and are not codified elsewhere in the U.S. Code (“U.S.C.”) or CFR. While the regulations of Subpart A are not fully codified elsewhere, they regularly reference other provisions of the U.S.C. and CFR.
Subpart B incorporates by reference complete provisions of the U.S.C. and CFR and applies them to FISCUs. Some provisions of Part 741 refer to sections of the U.S.C. or CFR that discuss activities that may not be permitted under the law of the state in which the FISCU is chartered. Please note that Part 741 does not enlarge the scope of a FISCU’s authority beyond what is permitted under applicable state law.
How to use this Compendium:
This document is an integrated roadmap of Part 741. Each Section of Part 741 is listed in its entirety. Where the text of Part 741 includes a cross-reference to other provisions of the U.S.C. or CFR, such cross-reference is indicated in bold. Click the bold text and your web browser will automatically open the relevant provision at www.gpo.gov (for the U.S.C.) or www.ecfr.gov (for the CFR).
Some provisions include a “Special Notes” section. These notes are not part of the text of Part 741. Rather, they are helpful links and guidance meant to make use the Compendium more efficient.
“FISCU” refers to entities regulated under Part 741. The original text of Part 741 refers to the regulated entities variously as “credit unions,” “credit unions insured pursuant to title II of the Act,” “state-chartered credit unions,” etc. Inconsistent identification makes it difficult to determine when a particular provision applies. Therefore, for ease of reference, the term “FISCU” is inserted throughout the text of Part 741 wherever applicable.
“The Act” refers to the Federal Credit Union Act (12 U.S.C. §§1751 - 1795k).
“NCUA” refers to the National Credit Union Administration.
Problem 1. I clicked the bold text in the body of a Section, but my browser did not open.
A: Make sure your cursor shows that you are using either the Selection Tool or the Hand Tool . The hyperlinks in the bold text may not appear if you are using other editing tools.
Problem 2. My browser opened a provision other than the one I clicked. My browser tried to open the website, but I got an error message.
A: The bold text sends you to websites maintained by the U.S. Government Printing Office. The web addresses of each provisions may change unexpectedly. If you are directed to the incorrect provision or you receive an error message indicating that you entered the wrong address, please contact Brian Knight at email@example.com
Subpart A - Regulations That Apply to Both Federal Credit Unions and Federally Insured State-Chartered Credit Unions and That Are Not Codified Elsewhere in NCUA's Regulations
§741.2 Maximum borrowing authority.
§741.4 Insurance premium and one percent deposit.
§741.5 Notice of termination of excess insurance coverage.
§741.6 Financial and statistical and other reports.
§741.7 Conversion to a state-chartered credit union.
§741.8 Purchase of assets and assumption of liabilities.
§741.9 Uninsured membership shares.
§741.10 Disclosure of share insurance.
§741.11 Foreign branching.
§741.12 Liquidity and contingency funding plans.
Subpart B - Regulations Codified Elsewhere in NCUA's Regulations as Applying to Federal Credit Unions That Also Apply to Federally Insured State-Chartered Credit Unions
§741.201 Minimum fidelity bond requirements.
§741.202 Audit and verification requirements.
§741.203 Minimum loan policy requirements.
§741.204 Maximum public unit and nonmember accounts, and low-income designation.
§741.205 Reporting requirements for credit unions that are newly chartered or in troubled condition.
§741.206 Corporate credit unions.
§741.207 Community development revolving loan program for credit unions.
§741.208 Mergers of federally insured credit unions: voluntary termination or conversion of insured status.
§741.209 Management official interlocks.
§741.210 Central liquidity facility.
§741.212 Share insurance.
§741.213 Administrative actions, adjudicative hearings, rules of practice and procedure.
§741.214 Report of crime or catastrophic act and Bank Secrecy Act compliance.
§741.215 Records preservation program.
§741.216 Flood insurance.
§741.217 Truth in savings.
§741.218 Involuntary liquidation and creditor claims.
§741.219 Investment requirements.
§741.220 Privacy of consumer financial information.
§741.221 Suretyship and guaranty requirements.
§741.222 Credit union service organizations.
§741.223 Registration of residential mortgage loan originators.
§741.224 Golden parachute and indemnification payments.
§741.225 Loan participations.