FARMERS BRANCH, Texas – Contrary to reports filed by other credit union publications, the Texas credit union modernization bill – HB 1307 – that was voted out of the state House Financial Institutions Committee on March 26, does not include a provision allowing credit unions to acquire banks. Ann Graham, then general counsel for the Texas Credit Union League said that provision was dropped. Among the provisions of the measure, it would: allow CUs to offer check cashing and wire transfers to non-members in their field-of-membership, allow low-income credit unions to issue secondary capital accounts to members or non-members with the commissioner’s approval and accept shares and deposits from non-members; allow a CU to terminate or suspend a membership if a member verbally or physically abuses a credit union member or employee; allow a CU to authorize voting by mail or by electronic balloting; and requires CUs to file quarterly call reports. The bill was sent to the House floor for a hearing, but Graham said no date has been set. The legislative session ends the end of May.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.