# Conversion of Insured Credit Unions to Mutual Savings Banks
> **US National Credit Union Administration** · Final rule. · Published 2005-01-28 · Effective 2005-01-28 · 70 FR 4005
## Document
- **Document number:** 05-1167
- **Category:** final-rule
- **Agency:** US National Credit Union Administration
- **Federal Register citation:** 70 FR 4005
- **CFR reference:** 12 CFR 708
- **Publication date:** 2005-01-28
- **Effective date:** 2005-01-28
## Abstract

NCUA is updating its rule regarding conversion of insured credit unions to mutual savings banks (MSBs). The amendments require a converting credit union to provide its members with additional disclosures about the conversion before conducting a member vote. The amendments also require the vote to be by secret ballot and conducted by an independent entity. Finally, the amendments require a federally- insured State credit union to provide NCUA with conversion related information about the law of the State where the credit union is chartered.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2005/01/28/05-1167/conversion-of-insured-credit-unions-to-mutual-savings-banks)
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