Rep. Martha Deuter supports SB3113 to revise credit union rules and enable digital asset services

Rep. Martha Deuter (D-45th) cast a Yes vote for SB3113, a measure that seeks to revise credit union regulations and permit digital asset services, during the 104th General Assembly session on May 31, 2026, according to the Illinois House. The legislation was approved in the House with a 112-2 vote.

The bill’s official summary is given as: "CREDIT UNIONS-VARIOUS."

This overview, which is based on the bill’s language, may include clarifying interpretation of its key sections.

SB3113 updates the Illinois Credit Union Act by allowing a credit union’s registered agent office to be located separately from its primary business address and establishes clearer procedures for preparing, signing and approving records from board and membership meetings. It grants credit unions the authority to deliver or facilitate digital asset services for members using approved third parties, with required due diligence, written contracts, and risk disclosures. The bill also allows credit unions to provide loan-related fee-based motor vehicle debt cancellation products, specifically characterizing them as not being insurance. Further, it broadens allowed investments to cover commercial mortgage-backed securities and collateralized mortgage obligations that meet certain federal standards. The legislation becomes effective immediately.

SB3113 was recorded as 'Third Reading - Short Debate - Passed'.

Deuter earned a Bachelor of Social Work from Ohio University in 1995.

Deuter, a Democratic representative, won election to the Illinois State House for the 45th District in 2025, succeeding Jenn Ladisch Douglass.

Illinois legislation follows a multi-step process starting with chamber introduction, moving through committee scrutiny, followed by floor debates and votes in both the House and Senate, before the governor can sign or veto the measure. The General Assembly meets biennially, and, although thousands of bills are introduced each session, a much smaller portion make it through the full process to become law.