Illinois Department of Financial and Professional Regulation issues guidance to credit unions

State Issues Illinois State Regulators Credit Union Covid-19

On March 30, the Illinois Department of Financial and Professional Regulation (Department) issued a notice to credit unions providing that credit unions may submit a request to postpone the credit union’s 2020 annual meeting to the Department’s Credit Union Section. In addition, the guidance requires credit unions to submit a waiver request to hold annual membership meetings in a month other than January, February, and March.