Arizona credit union requests receive set review deadlines

The deputy director must acknowledge a completed request or ask for more information, then decide by the stated deadline. These deadlines apply to requests to amend bylaws, change a credit union’s name, or change its main office or an in-state branch. For bylaw amendments and in-state office or branch changes, the deputy director may extend the decision time for good cause. The acknowledgment or request for more information is due within 10 business days. The decision period starts when the acknowledgment is sent to the credit union.

An insured credit union organized under Arizona law may use powers granted to an out-of-state credit union if the deputy director approves first. This applies to credit unions organized under Arizona law whose accounts are insured by an insuring organization. The credit union must apply on the deputy director’s form and identify the law or rule that grants the powers.