{"id":"SEC-13-GM-028","kind":"meeting","level":"organizer","jurisdiction":"every State (branch lobbies, community halls, hotel ballrooms), ALL","state":"","metro":"","industry":"13","agency":"","eco":"","issuer":"each federal credit union\u0027s board, under the NCUA Federal Credit Union Bylaws (12 C.F.R. part 701, App. A)","authority":"","instrument":"NCUA Letter to Federal Credit Unions 20-FCU-02, \u0027NCUA Actions Related to COVID-19 - Annual Meeting Flexibility\u0027 (March 2020) (same instrument as Ex. AGY-FED-FINANCIAL-030)","title":"Annual meetings of the members of federal credit unions (class: every federally chartered credit union\u0027s annual membership meeting, and special member meetings)","dateIssued":"","effective":"","end":"","startDate":"","endDate":"","quarters":[],"types":[],"addressees":[],"clause":"\u0027the COVID-19 outbreak\u0027 (Ex. SEC-13-GM-028): the NCUA \u0027notifies all FCUs that, if they have adopted this bylaw amendment, it is appropriate to invoke this bylaw provision\u0027","enforcement":"","functions":["CB","OP","BR","MK"],"notes":"2020: NCUA Letter 20-FCU-02 (March 2020) authorized every FCU to adopt, without further approval, a bylaw amendment permitting \u0027its annual meeting of the members, and special member meetings... virtually and without an in-person quorum,\u0027 with \u0027at least seven days\u0027 advance notice of the change to a virtual meeting format,\u0027 and added: \u0027A FCU also has flexibility to postpone its annual meeting... Under current circumstances, a FCU might consider delaying its annual meeting until a more appropriate time\u0027 (Ex. SEC-13-GM-028); Letter 20-FCU-04 (November 2020) continued the flexibility (recited in Ex. SEC-13-GM-017). 2021: Flexibility continued through 2021 and 2022 (Letter 21-FCU-06, November 2021); \u0027In March 2020, November 2020, and November 2021, the NCUA issued three letters to federal credit unions providing flexibility during the pandemic related to annual meetings... This emergency exemption will expire on December 31, 2022\u0027 (Ex. SEC-13-GM-017). Usual dates: Annual, most in the first half of the year. Scale: 5,029 federally insured credit unions with 127.2 million members at June 30, 2021. Venue orders 2020: NY-005, CA-002, IL-005, TX-008, FL-010, DC-006, MI-011, PA-002, GA-005, NC-005, CO-012. Venue orders 2021: IL-079, CA-017, NV-036, MET-NYC-017, MET-SFO-011, MET-MSY-030, HI-025.","sourceUrl":"https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/ncua-actions-related-covid-19-annual-meeting-flexibility","snapshot":"https://web.archive.org/web/20200417213248/","fileExists":true,"fileBytes":64686,"grade":"primary","character":"","description":"NCUA Letter to Federal Credit Unions 20-FCU-02, \u0027NCUA Actions Related to COVID-19 - Annual Meeting Flexibility\u0027 (March 2020) (same instrument as Ex. AGY-FED-FINANCIAL-030)","collection":"SEC-13","url":"/library/SEC-13-GM-028","exhibitUrl":"/exhibit/SEC-13-GM-028","citation":"each federal credit union\u0027s board, under the NCUA Federal Credit Union Bylaws (12 C.F.R. part 701, App. A), NCUA Letter to Federal Credit Unions 20-FCU-02, \u0027NCUA Actions Related to COVID-19 - Annual Meeting Flexibility\u0027 (March 2020) (same instrument as Ex. AGY-FED-FINANCIAL-030) (Ex. SEC-13-GM-028)","stateName":"","related":["SEC-13-GM-017","NY-005","CA-002","IL-005","TX-008","FL-010","DC-006","MI-011","PA-002","GA-005","NC-005","CO-012"]}