2026 Senate Bill 1029

Financial institutions: credit unions; notice requirements for certain closures by credit unions; modify.

A bill to amend 2003 PA 215, entitled “Credit union act,” by amending section 221 (MCL 490.221), as amended by 2016 PA 153.

AI Analysis – Experimental

Senate Bills 1026-1030 propose targeted updates to the Michigan Credit Union Act to streamline regulatory processes, increase operational flexibility, and enhance member participation, without imposing new fiscal burdens.

Introduced in the Senate

June 10, 2026

Introduced by Sen. Kevin Daley (R-26) and six co-sponsors

Co-sponsored by Sens. Veronica Klinefelt (D-11), Joseph Bellino (R-16), Paul Wojno (D-10), Mary Cavanagh (D-6), Stephanie Chang (D-3) and Ruth Johnson (R-24)

Referred to the Committee on Finance, Insurance, and Consumer Protection