Credit Union Act Modernization Bill Passes Unanimously out of Committee

Posted by Brooke Parent on February 20, 2026

Arizona Credit Unions spent time in the Fall identifying current operational pain points and opportunities within the Arizona Credit Union Act. From those discussions, GoWest worked on language to make updates and changes to the Credit Union Act. Representative Justin Wilmeth (R-2) agreed to sponsor this legislation and advocate for it. The Department of Insurance and Financial Institutions (DIFI) was involved in this process to ensure they could implement these updates. HB2979 reduces burdens for consumers and credit union operations, streamlines regulatory approval timelines, and ensures Arizona state-chartered credit unions are not disadvantaged compared to federally or out-of-state chartered entities.

HB2979, was heard in the Commerce Committee on February 17^th, the last week to hear bills in policy committees in their chamber of origin. Brooke Parent, VP of Legislative Affairs, GoWest, testified in favor of the bill during committee, along with comments from Rep. Wilmeth. DIFI also signed in Neutral for this bill.

The bill passed unanimously with an 11-0 vote.

The bill will now continue to move through the legislative process, where it will be heard in the Rules Committee, a procedural committee that ensures legislation is constitutional. After it passes through the Rules Committee, it will head to the floor where the full body will vote on the legislation. Once it is through that vote, the process starts over in the Senate.

GoWest will continue to provide updates on this important credit union legislation.

Posted in Advocacy on the Move, Arizona Advocacy.