The rules of a credit union may be amended only by a resolution passed by not less than two-thirds of members present and voting at an annual general meeting or at a special general meeting called for that purpose. Amendments are not valid until registered by the Bank; two copies signed by four members, including the secretary and a director, must be sent. A change of name is excepted from the signing requirement but is to be registered by the Bank where made under section 11. Before submission, the credit union must satisfy itself that the amendment is not contrary to the financial services legislation. The Bank will, within three months, issue an acknowledgement of registration which is, unless the contrary is proved, sufficient evidence of registration; if not satisfied the Bank will refuse registration, give notice stating grounds, and that refusal is appealable under Part VIIA of the Central Bank Act 1942.

During a transitional period the board may, by resolution, make consequential amendments to the rules; the transitional period is one year from commencement or longer if determined by the Bank. After that year the Bank need not register an amendment unless the consequential amendments have been made before receipt of the amendment or are to be effected by it. Equivalent provisions apply in a second transitional period of one year from commencement of section 7(d) of the Credit Union (Amendment) Act 2023, or for such longer period as the Bank may determine, with the same post-expiry registration condition.