SB1994Introduced in the Senate
CREDIT UNIONS-VARIOUS
Introduced by David Koehler, District 46
What does this bill do?
Plain-English breakdown
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Official description
Amends the Illinois Credit Union Act. Authorizes a credit union to furnish information to any person on a list submitted and periodically updated by a member who is an elderly person or person with a disability or to specified other persons, if there is suspicion by the credit union that the member has been or may become a victim of financial exploitation. Provides that the board of directors of a credit union with a composite rating of either 1 or 2 under the Uniform Financial Institutions Rating System known as the CAMELS supervisory rating system and a management rating under such composite rating of either 1 or 2 may meet not less than 4 (instead of 6) times annually. Provides that the supervisory committee of a credit union with assets of less than $10,000,000 may, at its option, engage (instead of a credit union with assets of $5,000,000 or more, but less than $10,000,000 shall engage) a licensed certified public accountant or licensed certified public accounting firm to perform specified auditing and other services. Permits the merger of credit unions, without meeting certain voting and notice requirements, where supervisory concerns exist and upon agreement of the boards of directors of the merging and continuing credit unions, as confirmed by a majority vote of the directors present at a meeting of each board at which a quorum is present. Makes other changes.
Where it stands
Public Act . . . . . . . . . 104-0403
August 15, 2025
How did lawmakers vote?
House votes
3 recorded votes · each counted separately
Senate votes
5 recorded votes · each counted separately
SenateStage: Concurrence in Senate · May 31, 2025
57
Yes
0
No
2
Absent or Not Voting
59 senators recorded in this Senate vote. Colors show vote categories only, not whether a vote was good or bad.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
See how each senator voted
| Senator | District | Vote |
|---|---|---|
| Javier Cervantes | 1 | Yes |
| Omar Aquino | 2 | Yes |
| Mattie Hunter | 3 | Yes |
| Kimberly Lightford | 4 | Not Voting |
| Lakesia Collins | 5 | Yes |
| Sara Feigenholtz | 6 | Yes |
| Mike Simmons | 7 | Yes |
| Ram Villivalam | 8 | Yes |
| Laura Fine | 9 | Not Voting |
| Robert Martwick | 10 | Yes |
Bill history
Filed with Secretary by Sen. David Koehler
First Reading
Referred to Assignments
Assigned to Financial Institutions
Added as Chief Co-Sponsor Sen. Graciela Guzmán
Senate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler
Senate Committee Amendment No. 1 Referred to Assignments
Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
Senate Committee Amendment No. 1 Adopted
Do Pass as Amended Financial Institutions; 008-000-000
Placed on Calendar Order of 2nd Reading March 6, 2025
Second Reading
Placed on Calendar Order of 3rd Reading March 19, 2025
Placed on Calendar Order of 3rd Reading **
Placed on Calendar Order of 3rd Reading
Third Reading - Passed; 056-000-000
Arrived in House
Chief House Sponsor Rep. Jay Hoffman
First Reading
Referred to Rules Committee
Assigned to Financial Institutions and Licensing Committee
Do Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000
Placed on Calendar 2nd Reading - Short Debate
House Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman
House Floor Amendment No. 1 Referred to Rules Committee
House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
Second Reading - Short Debate
Held on Calendar Order of Second Reading - Short Debate
House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 011-000-000
Added as Co-Sponsor Sen. Chris Balkema
Third Reading/Final Action Deadline Extended-9(b) May 31, 2025
House Floor Amendment No. 1 Adopted
Placed on Calendar Order of 3rd Reading - Short Debate
Third Reading - Short Debate - Passed 114-000-000
Secretary's Desk - Concurrence House Amendment(s) 1
Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 28, 2025
House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. David Koehler
House Floor Amendment No. 1 Motion to Concur Referred to Assignments
House Floor Amendment No. 1 Motion to Concur Assignments Referred to Executive
House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000
House Floor Amendment No. 1 Senate Concurs 057-000-000
Senate Concurs
Passed Both Houses
Sent to the Governor
Governor Approved
Effective Date January 1, 2026
Public Act . . . . . . . . . 104-0403
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