Credit Unions

At Miller Nash, we recognize the unique needs and challenges faced by credit unions. As trusted advisors to public and private financial institutions, including credit unions, we provide a comprehensive suite of legal services. Our financial services attorneys are known for their deep industry experience, offering practical solutions that help our clients navigate an increasingly complex regulatory landscape. From everyday operations to strategic decisions like mergers and acquisitions, compliance, and litigation, we stand alongside credit unions to provide guidance and support tailored to their distinct structure and membership.

Several of our attorneys also serve on credit union boards, giving them firsthand insight into the mission-driven culture and community-focused projects that set credit unions apart. This experience strengthens our ability to provide advice that is not only legally sound but also aligned with the values and goals of each credit union.

Compliance & Regulatory Guidance

We know that a credit union’s compliance with state and federal regulations is critical, and our team helps ensure that our clients are always up-to-date with this ever-evolving legal landscape. We offer counsel on issues related to consumer protection, federal and state regulatory compliance (e.g., TILA, RESPA, ECOA, etc.), and interactions with (or investigations by) many federal and state agencies, including the NCUA and other state-specific regulatory bodies. Our services cover areas like reviewing member-facing agreements, day-to-day operational matters, privacy laws, lending and lending practices, vendor management, and data security compliance, among many others. In short, we recognize and respect the unique structure and oversight of credit unions, and we help clients fulfill their missions while meeting the needs of the communities they serve.

Corporate Governance & Bylaws

We assist credit unions in maintaining strong corporate governance practices. Our attorneys provide guidance on the proper conduct of membership meetings and elections, as well as the duties and responsibilities of officers and directors. Whether helping revise bylaws for state-chartered credit unions or interpreting the standard bylaws for federally chartered credit unions, we ensure our clients adhere to the highest standards of governance and organizational structure.

Mergers & Acquisitions

Mergers and acquisitions (M&A) are often a significant part of credit union strategy, and Miller Nash is equipped to manage these complex processes. We represent a wide variety of financial institutions in both mergers and acquisitions, asset purchases and sales, as well as conversions between state and federal charters. Our team works closely with credit union clients to navigate the intricacies of the M&A process, from due diligence to regulatory approvals, ensuring a smooth conversion between like-minded institutions and their shared goals and visions.

Credit Union Service Organizations (CUSOs)

We can provide advisory services on the formation, structuring, and qualification of Credit Union Service Organizations (CUSOs). These entities enable credit unions to offer a variety of services to their members, such as investment advisory products, mortgage services, and auto lending programs. We can also assist in the negotiation of third-party contracts that support these services, ensuring that credit unions can expand their offerings while maintaining compliance.

Commercial Lending

Our attorneys handle a full range of commercial lending transactions for financial institutions. From structuring the transaction through documentation, negotiation, and closing, we listen to our clients' needs and help them reach a successful outcome. We also regularly advise credit unions on a variety of matters involving lending regulations, including fair lending, TILA/RESPA, ECOA, and other consumer protection laws and regulations.

Real Estate Transactions and Land Use

Credit unions often engage in real estate transactions, whether for the purchase, development, sale, or leasing of properties. Miller Nash represents credit unions in these matters, including appearances before zoning and planning boards when necessary in connection with the development of real estate for the establishment of new branches or offices.

Litigation & Dispute Resolution

We effectively and efficiently advocate on behalf of financial institutions in litigation matters relating to creditor’s rights, lender liability, consumer class action suits (including securities fraud and fee-related class actions, such as APSN overdraft, re-try NSF, debit card ATM, and garnishment fees), corporate governance, commercial disputes, and UCC presentment/transfer warranty disputes. We also protect intellectual property, including trade secrets, and offer counsel in cases involving member disputes. Whether through negotiation, mediation, or court proceedings, we work to protect our clients’ interests.

Employment & Benefits Law

We work closely with credit unions to manage their workforce effectively while complying with employment laws. Our services cover a broad spectrum of human resource matters, from drafting employment agreements and policies to advising on performance management, discrimination and harassment prevention, employee accommodations, and wage and hour compliance. We also provide guidance on employee benefits, including plan design, compliance with ERISA and other applicable laws, and navigating benefits issues unique to credit unions. In addition, we offer training programs for credit union staff on topics like workplace safety, fiduciary compliance, DEI, and social media policies.

Privacy & Data Security

As custodians of sensitive member data, credit unions face increasing risks associated with data security. Miller Nash provides strategic counsel on best practices for data protection, including ensuring compliance with privacy laws and responding effectively to data security incidents. We help credit unions develop information security policies and incident response plans, navigate data breach notification requirements, and implement strategies to minimize risk. We also assist credit unions in navigating vendor agreements, particularly when integrating artificial intelligence (AI) tools.

Insurance Recovery & Advising

Our insurance recovery team works with credit unions to mitigate and manage their unique risks. On the transactional side, we advise credit unions on insurance-specific contracting provisions and M&A deal terms. When claims inevitably occur, we work with clients to craft insurance recovery strategies across all commercial lines including cyber, commercial property, and reps & warranties.

Miller Nash’s financial services team is recognized as a leading provider of legal services to credit unions, banks, and other financial institutions. Our attorneys bring decades of experience in the financial services sector and are committed to offering practical, innovative legal solutions that help credit unions thrive in a dynamic and regulated environment. From corporate governance to compliance, mergers, and litigation, our comprehensive approach ensures that credit unions receive the support they need to succeed.

We are proud to serve as trusted advisors, helping credit unions grow, navigate regulatory challenges, and manage the unique legal issues that arise from their member-based structure. By partnering with us, credit unions can rest assured that they have a skilled team of legal professionals by their side.