Financial Institutions, Dept. of - As enacted, terminates the state credit union share insurance corporation that protects or guarantees shareholdings and deposits of member credit unions against loss; terminates the capital fund held by the corporation that consists of capital contributions and special assessments paid by member credit unions; makes other revisions pertaining to credit unions. - Amends TCA Title 45, Chapter 2; Title 45, Chapter 4 and Title 45, Chapter 7.

HB 2537 terminates Tennessee's state credit union share insurance corporation and its capital fund, ending the state program that previously protected credit union members' deposits. The bill requires all Tennessee credit unions to obtain share insurance through the National Credit Union Association (NCUA) instead of the state program, unless the commissioner determines otherwise. It also modifies examination requirements for credit unions, allowing annual exams to be extended up to 24 months based on factors like management quality and risk profile. These changes directly affect all Tennessee credit unions operating under state law.