Sanalitro supports SB3113 to modernize Illinois credit union rules

State Rep. Jennifer Sanalitro (R-48th) cast a Yes vote for SB3113 during the 104th General Assembly on May 31, 2026, approving updates to Illinois credit union regulations and services, according to the Illinois House. The measure cleared the House with a 112-2 vote.

The bill summary refers to it as: "CREDIT UNIONS-VARIOUS."

Below is a summary and interpretation based on the bill’s content to better explain its provisions.

SB3113 modifies the Illinois Credit Union Act, allowing a credit union’s registered agent office to be different from its main business address, and clarifying procedures for recording, signing, and approving meeting minutes for boards and members. The legislation additionally gives credit unions the ability to provide digital asset services to members in partnership with certain third parties, pending due diligence, written contracts, and required risk disclosures. The bill also permits the offer of fee-based motor vehicle debt cancellation products as a loan-related service, not as insurance. Qualifying credit unions can now invest in commercial mortgage securities and certain collateralized mortgage obligations under federal guidelines. The new rules are effective immediately.

For SB3113, the recorded action was 'Third Reading - Short Debate - Passed'.

Sanalitro, a Republican, has represented the 48th House District since 2023, having succeeded former state Rep. Terra Costa Howard.

Legislation in Illinois moves through a multi-stage process that features introduction in either the House or Senate, committee hearings, debates, and votes in both chambers. Upon passing the legislature, a bill is then sent to the governor for signature or veto. The General Assembly meets on a biennial basis and sees thousands of measures submitted per session, yet only a select number complete every step to become law.