December 7, 2016
TO: ALL WISCONSIN STATE-CHARTERED CREDIT UNIONS
RE: MEMBER BUSINESS LOAN RULE
On January 1, 2017, the National Credit Union Administration's revised rule on Member Business Loans; Commercial Lending (Part 723) will take effect. This rule does not apply to Wisconsin state-chartered credit unions. Wisconsin state-chartered credit unions must comply with Wisconsin Administrative Code DFI-CU 72, Member Business Loans.
The Office of Credit Unions has initiated the rule making process to update DFI-CU 72. However, until a new rule is finalized, the existing rule remains in effect.
Questions regarding this letter should be directed to the Office of Credit Unions at (608) 261-9543.
OFFICE OF CREDIT UNIONS