HB1083 • 2026

Private Insurance Coverage for Credit Union Accounts

Labor

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Gentry
Last action: 2026-03-13
Official status: House - Died in Insurance & Banking Subcommittee
Effective date: 2026-07-01

Plain English Breakdown

The bill did not pass the final stages of the legislature and died in a committee, so it has no effective date or further legislative action.

Private Insurance for Credit Union Accounts

This bill allows credit unions to choose between getting insurance from a qualified private organization or the National Credit Union Administration and sets rules for when this can happen.

What This Bill Does

Allows credit unions to obtain insurance coverage either through the National Credit Union Administration or from a qualified private organization.
Authorizes the Office of Financial Regulation (OFR) to prohibit a qualified private organization from providing insurance if it lacks sufficient resources or bylaws to protect credit union accounts properly.
Permits a prohibited qualified private organization to seek judicial review.

Who It Names or Affects

Credit unions in Florida
Private insurance companies licensed in Florida
The Office of Financial Regulation

Terms To Know

qualified private organization: An insurance company or share insurance guarantor that is allowed to provide insurance for credit union accounts.

Limits and Unknowns

The bill did not pass the final stages of the legislature and died in a committee.
It's unclear how many credit unions will choose private insurance over the National Credit Union Administration.

Bill History

2026-03-13 House
• Died in Insurance & Banking Subcommittee
2026-01-13 House
• 1st Reading (Original Filed Version)
2026-01-12 House
• Referred to Insurance & Banking Subcommittee • Referred to Commerce Committee • Now in Insurance & Banking Subcommittee
2026-01-06 House
• Filed

Official Summary Text

Private Insurance Coverage for Credit Union Accounts; Provides private insurance option for coverage for credit union accounts; authorizes OFR to prohibit qualified private organizations from providing such insurance coverage under certain circumstances; authorizes such qualified private organizations to seek judicial review.

Current Bill Text

Read the full stored bill text

HB 1083 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1083-00
Page 1 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to private insurance coverage for 2
credit union accounts; amending s. 657.033, F.S.; 3
providing a private insurance option for coverage for 4
credit union accounts; authorizing the Office of 5
Financial Regulation to prohibit qualified private 6
organizations from providing such insurance coverage 7
under certain circumstances; authorizing such 8
qualified private organizations to seek judicial 9
review; defining the term "qualified private 10
organization"; providing an effective date. 11
12
Be It Enacted by the Legislature of the State of Florida: 13
14
Section 1. Subsection (9) of section 657.033, Florida 15
Statutes, is amended to read: 16
657.033 Accounts.— 17
(9)(a) A credit union shall obtain and maintain insurance 18
of accounts through the National Credit Union Administration or 19
from a qualified private organization. 20
(b) The office may prohibit a qualified private 21
organization from providing insurance under paragraph (a) if the 22
office finds, after giving the organization notice of and 23
opportunity for a hearing, that the organization lacks the 24
resources or bylaws, or both, to adequately protect accounts of 25

HB 1083 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1083-00
Page 2 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

credit unions in this state. A qualified private organization 26
that is prohibited by the office from providing insurance under 27
paragraph (a) may seek judicial review in accordance with s. 28
120.68. 29
(c) As used in this subsection, the term "qualified 30
private organization" means an insurance company licensed to do 31
business in this state or an approved share insurance guarantor. 32
Section 2. This act shall take effect July 1, 2026. 33