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Home > Credit Union Philosophy > How are credit unions regulated?

Question: How are credit unions regulated?

Answer: The regulatory structure for credit unions is identical or substantially similar to that of banks. Because of credit union limitations affecting our structure or services, some regulations that apply to banks do not apply to credit unions.

Federal credit unions, as well as federally insured, state chartered credit unions, report their financial data quarterly to the National Credit Union Association. NCUA evaluates the data as a tool to assess the safety and soundness of credit unions. This reporting structure is at least as robust as that required of banks by their regulator.

In Montana, state chartered credit unions are regulated by the state Division of Banking & Financial Institutions. The current commissioner of banking is Annie Goodwin.

While bank regulators can approve new kinds of investments for their institutions, credit union investments are strictly governed by laws that credit union regulators must adhere to.

A top Credit Union National Association official once said, “Frankly, credit unions are getting tired of the regulations heaped on them because of banks’ unethical behavior.”

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