Considering a Credit Union Merger in California? The California DBO has Changed the Rules (Again)!

By Styskal, Wiese & Melchione

As part of the continued restructuring process of mergers, the Department of Business Oversight is now changing processes to be in line with the banking side.

  • Process: All applications will go to the legal department for review and comment
  • Legal: We have seen a complete review (overhaul?) of the process, procedure and forms
  • Forms: Each form, even if previously submitted, will likely result in changes 
  • Technical issues: Three (3) original Certificates of Merger are now required as well as a new filing step with the DBO after the member vote (but before filing with the California Secretary of State).
Subscribe for Updates

Want the latest news and insights from the world of financial institutions delivered directly to your inbox? Enter your information below to be notified by email whenever SWM Lessons is updated.

  • This field is for validation purposes and should be left unchanged.
Search the Blog
Want to Learn more?

Reach out today to discover how we can help.