Environment
No direct effect
Neutral — no direct effect identified.
Benefits
- No material direct effect identified.
Risks
- No material direct effect identified.
StateMinnesotaIntroduced
HF 4118: Credit unions authorized to obtain insurance from a credit union share insurance provider, credit union share guaranty corporations regulated, and conforming changes made.
Carlie Kotyza-Witthuhn
HF 4118 status: Introduced — Effective date 08/01/2026 (updated Aug 1, 2026).
Source
OpenStates
Confidence
Low
Analysis basis
OpenStates summary
01
What this bill does
Official summary alongside an AI-generated read on where it stands and why.
Overall Score
58OUT OF 100
Score:58/100 civic fit
Risk:Moderate Risk
Impact:Moderate Impact 55/100
Constitutionality90%
Bipartisan50%
Public opinion50%
Bill summary
What changes
Credit unions are authorized to utilize private share insurance providers in addition to or instead of traditional government-backed share insurance.
Who is affected
State-chartered credit unions, their members (depositors), and private share insurance corporations.
Requirements and enforcement
Private share insurance providers must adhere to newly established state regulatory rules to ensure safety and solvency.
Costs and funding
Not stated in the available source.
When it takes effect
Effective date of August 1, 2026.
Potential benefits
Provides credit unions with more options for managing insurance costs and operational capital.
Risks and tradeoffs
Potential loss of the high level of consumer confidence associated with NCUA/government insurance and risks regarding the long-term stability of private insurers.
What is still unknown
The specific regulatory criteria for private insurers and the long-term impacts on deposit security compared to traditional models.
02
Impact analysis
✦ AI analysisModeled effects across six domains, estimated from bill text and comparable legislation.
Economy
Mixed / Neutral
55%
Benefits
- Diversifies insurance options for credit unions
- Potentially lowers insurance costs for institutions
- Creates a competitive market for share insurance
Risks
- Potential for lower consumer confidence compared to NCUA backing
- Risk of private share insurer insolvency
- Increased complexity in managing insurance structures
Society
No direct effect
Neutral — no direct effect identified.
Benefits
- No material direct effect identified.
Risks
- No material direct effect identified.
Technology Industry
No direct effect
Neutral — no direct effect identified.
Benefits
- No material direct effect identified.
Risks
- No material direct effect identified.
Civic Accountability
Positive outlook
60%
Benefits
- Increases state-level regulatory oversight
- Formalizes licensure requirements for providers
- Subjects private insurers to state auditing
Risks
- Potential for state-level regulatory burden
- Risk of regulatory capture by insurance providers
- Complexity in monitoring private entities vs federal standards
Public Health & Safety
No direct effect
Neutral — no direct effect identified.
Benefits
- No material direct effect identified.
Risks
- No material direct effect identified.
03
How trustworthy & consequential it is
Sourcing already shown above, this is what the analysis found worth flagging.
Source
OpenStates
Official bill text or data from OpenStates.
Confidence
Low
Information is limited or incomplete.
Analysis basis
OpenStates summary
Source used for this bill's analysis.
Source note
LegiScan returned a PDF-only document. PDF extraction is not enabled in this build, so the pipeline used a safer fallback.
Analysis scope
Source provided is a summary abstract only
04
Where it stands
Official record- IntroducedCurrent
- CommitteeUpcoming
- Chamber votesUpcoming
- Final agreementUpcoming
- GovernorUpcoming
- EnactedUpcoming
05
How it affects your district
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06
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