meta_id 3224382

On June 8, 2026, the National Credit Union Administration (NCUA) Board approved a final rule amending regulations concerning the reimbursement of reasonable expenses for federal credit union officials. The rule removes potential barriers to volunteer service by allowing federal credit unions to adopt more family-friendly policies tailored to their size, region, and operations. Previously, dependent care costs were not considered reasonable expenses under NCUA regulation 12 C.F.R. 701.33. The final rule expands the definition of reasonable expenses to include dependent care reimbursement, providing boards with greater flexibility in compensating officials. This change recognises that dependent care responsibilities can deter individuals from serving on credit union boards and aims to broaden participation in volunteer governance roles. The rule applies to all federal credit unions, including corporate federal credit unions. Federally insured, state-chartered credit unions remain subject to state law and are not affected by this amendment. The NCUA developed the final rule following a public comment period on the proposed rule issued on January 26, 2026. The final rule will take effect 30 days from its publication in the Federal Register. Credit unions should review their expense reimbursement policies to determine whether adopting dependent care reimbursement provisions aligns with their governance practices and operational needs. The full text of the final rule is available on the Federal Register at https://www.federalregister.gov/public-inspection/2026-11507/dependent-care-and-board-member-expense-reimbursement.