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Division Forms

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Iowa Division of Credit Unions
Division Forms

The Iowa Division of Credit Unions forms are grouped into different categories. The annual oath of directors form can be found under Legal Forms.

You may also find forms using using our Document & Form Search tool.

You may complete and print any form using your web browser. To retain changes made to a form, you must first download the form and complete the form using the downloaded copy.

Application Forms

All forms except for the ATM application can be completed electronically.

Branch Application/Credit Union Office

Credit Unions must submit a branch application for any building purchase or new construction projects before breaking ground.  An application is not mandatory for the purchase of unimproved land. 

All forms are created using Adobe PDF software. A link to obtain a free download of this software is located at the bottom of this page.

CDA Account Requirements PDF

Charitable Donation Account (CDA) Requirements

In December 2013, the National Credit Union Administration approved a rule (Part 703 and 721) to allow federal credit unions to fund hybrid charitable and investment vehicles designated as Charitable Donation Accounts (CDA). Iowa Code §533.301(25) allows a state chartered credit union to “engage in any activity authorized by the Superintendent which would be permitted if the state credit union were federally chartered and which is consistent with state law.” It is the position of the Division that an Iowa-chartered credit union that desires to take advantage of the federal rules for CDAs may apply to the Superintendent for authorization, before engaging in the proposed investment activity. To be approved, the credit union must submit a request to the Superintendent that addresses the items in 189 IAC 17.19(2), (a) though (c) and all conditions in NCUA Rules and Regulations Part 721.3, paragraphs (b)(2)(i) through (vii). The package submitted to the Iowa Division of Credit Unions must contain the following listed items.

  1. Current Net worth ratio:
  2. Board approved CDA policy. The policy must contain the following items, at a minimum.
    • Investment limit – Can’t be more than 5% of Net Worth
    • The assets must be held in a separate custodial account of special purpose entity and specifically identified as a CDA
    • If using a trust, the trustee must be regulated by the OCC, SEC, or another federal regulatory agency, or a state financial regulatory agency
    • The CDA manager, if anyone other than the credit union, must be a Registered Investment Adviser (RIA) or regulated by the OCC.
    • Contributions and donations can only be made to organizations that are exempt from taxation under section 501 (c)(3) of the Internal Revenue Code
    • 51% of the total return on the investment must be donated to specified charities at a frequency of no less than five years.
    • Risk tolerance and investment strategies
    • The CDA will be recorded on the credit union books in accordance with generally accepted accounting principles (GAAP)
  3. Board minutes containing approval of the CDA policy and CDA investment
  4. Copy of the proposed investment agreement that contains a complete description of the activities
    • Type of underlying Investment,
    • Listing of approved charitable organizations,
    • Frequency of distributions.
  5. Due diligence documentation should be available for examiner review

The following forms are needed to organize or modify the legal structure of any Iowa state-chartered credit union. Chartering requirements can be found in Iowa Code Section 533.201.

Contact the IDCU Office with any questions you may have.

Each credit union must complete the Oath of Directors Form annually.

All  forms are created using Adobe PDF software.  A link to obtain a free software download is located at the bottom of this page. All forms can be completed electronically. 

Oath of Directors Form (Rev: 09/2020)

Merger Forms

Iowa state-chartered credit unions may merge with another credit union in accordance with Iowa Code Section 533.401. The membership vote must comply with the rules established in Iowa Administrative Code Chapter189.12.6if the merging credit union is an Iowa Credit Union. IDCU staff developed a merger timeline to provide credit unions a broad overview of the entire process from start to finish.  Please refer to the guidelines and checklist to determine which forms to complete during each step of the process. All forms necessary to complete the merger process are listed on this page.  

All merger applications submitted to the Division after September 1, 2018 will have to comply with new NCUA regulations about mergers. It is important that all credit unions considering a merger or charter conversion review this rule to understand the additional requirements. The rule becomes effective October 1, 2018.

Highlights of the extra requirements include:

  • Provide members a Notice of Vote/Balloting at least 45 days before the membership vote date,
  • Disclose any increase in compensation above a stated threshold to the CEO, top 4 executive employees, and board or committee members,
  • Provide a way for members to communicate about the merger.

The Division is reviewing all Iowa laws and rules to determine the overall impact this will have on Iowa state-chartered credit unions. We will adapt our forms to meet the new requirements.

Check this page often for form updates.

Most forms are created using Adobe PDF software. A link to obtain a free download of this software is located at the bottom of this page.

Spin-Off Forms

Iowa state-chartered credit unions are allowed to spin-off part of their operations in accordance with Iowa Code Section 533.401 and Iowa Administrative Rules Chapter 189–16. IDCU has provided guidelines to aid credit unions in completing the spin-off process. This page lists all necessary forms.

All forms use Adobe PDF software. A link to obtain a free PDF software download is located at the bottom of this page.