State Del. Alfonso H. Lopez has put forward a bill that seeks to overhaul how out-of-state credit unions operate in Virginia while clarifying reciprocal provisions for Virginia-based institutions, according to the Virginia State House.
Filed as HB902 on Jan. 14, 2026, for the 2026 regular session, the proposal is officially titled: “Financial institutions; out-of-state credit unions.”
Below is our analysis based on the draft text of the bill, with clarifications for ease of understanding.
Essentially, the measure revises existing requirements impacting out-of-state credit unions with operations in Virginia and details how Virginia credit unions are treated when expanding into other states. The proposed law requires that out-of-state credit unions obtain approval from the State Corporation Commission, demonstrate proper organization and supervision in their home jurisdiction, carry share insurance, and substantiate the need for a Virginia location. Requirements also include compliance with Virginia’s interest rate restrictions and consumer protections, the designation of a registered agent, submission of examination reports, member notification duties, adherence to a relevant current code section, and observance of Virginia’s service-of-process regulations for share insurers. Failure to comply could lead the commission to suspend or revoke authorization to operate.
The legislation was introduced solely by Rep. Alfonso H. Lopez (Democrat-3rd District).
Since the session opened, Lopez has introduced 21 additional bills.
Lopez is an alumnus of Vassar College, earning a bachelor’s degree in 1992, and Tulane University, receiving his J.D. in 1995.
Lopez, a Democrat, was elected to represent Virginia’s 3rd House district in 2024, succeeding Will Morefield in the Virginia State House.
In Virginia, the legislative process starts with the introduction of a bill in either the House of Delegates or Senate. Bills are then assigned to committees for consideration and potential revision. If approved by committee members, the measure advances for full chamber debate and voting. Passage by both chambers sends the legislation to the governor, who may approve, veto, or allow the bill to become law without signature. The Virginia General Assembly meets each year in a regular session, commencing the second Monday in January. Hundreds of measures are introduced during a typical session, but a limited number are enacted.
| Patron(s) | Bill Number | Date Introduced | Short Description |
|---|---|---|---|
| Alfonso H. Lopez | HB902 | 01/14/2026 | Financial institutions; out-of-state credit unions. |
| Alfonso H. Lopez and Virgil Thornton | HB237 | 01/14/2026 | Va. Coastal Resilience Master Plan; identifying areas where marshes may migrate in face of sea rise. |
| Alfonso H. Lopez, Adele Y. McClure, Betsy B. Carr, Destiny LeVere Bolling, Elizabeth B. Bennett-Parker, Irene Shin, Karen Keys-Gamarra, Kathy K.L. Tran, Kimberly Pope Adams, Leslie Chambers Mehta, Marcia S. “Cia” Price, Phil M. Hernandez, Rae Cousins, and Rozia A. Henson, Jr. | HB238 | 01/14/2026 | Minimum wage and overtime wages; payment, definitions, misclassification of workers, civil actions. |
| Alfonso H. Lopez, Kathy K.L. Tran, Rae Cousins, and Virgil Thornton | HB338 | 01/14/2026 | Building Service employees; authority of local governments, definition. |
| Alfonso H. Lopez, Adele Y. McClure, Destiny LeVere Bolling, Elizabeth B. Bennett-Parker, Irene Shin, Karen Keys-Gamarra, Kathy K.L. Tran, Marcia S. “Cia” Price, Michelle Lopes Maldonado, Phil M. Hernandez, and Rae Cousins | HB339 | 01/14/2026 | Employee protections; wage and hour, health and safety, and mining safety provisions. |
| Alfonso H. Lopez | HB905 | 01/14/2026 | Persons other than ministers who may perform rites of marriage; clerk may issue order. |
| Alfonso H. Lopez | HB908 | 01/14/2026 | Towing advisory boards; changes membership. |
| Alfonso H. Lopez, Atoosa R. Reaser, Irene Shin, Kannan Srinivasan, Kathy K.L. Tran, Kelly K. Convirs-Fowler, Rae Cousins, and Saddam Azlan Salim | HB911 | 01/14/2026 | Limited-duration licenses, driver privilege cards, and permits; validity periods for documents. |
| Alfonso H. Lopez, Alex Q. Askew, and Betsy B. Carr | HB913 | 01/14/2026 | Public Instruction, Superintendent of; reverse certain recent actions, etc. |
| Alfonso H. Lopez | HB914 | 01/14/2026 | Local Environmental Impact Fund; created. |
| Alfonso H. Lopez, Elizabeth B. Bennett-Parker, Bonita G. Anthony, and Michelle Lopes Maldonado | HB915 | 01/14/2026 | Local taxation; tax extension for federal government shutdown. |
| Alfonso H. Lopez, Jackie H. Glass, Nadarius E. Clark, and Dan I. Helmer | HB916 | 01/14/2026 | Concealed handgun permit; demonstrated competence, effective clause. |
| Alfonso H. Lopez | HB919 | 01/14/2026 | Retail Sales and Use Tax; impose firearm and ammunition tax. |
| Alfonso H. Lopez and Barbara A. Favola | HB921 | 01/14/2026 | Electric utilities; licensed retail suppliers, renewable portfolio standard requirements. |
| Alfonso H. Lopez | HB922 | 01/14/2026 | County manager plan of government; affordable dwelling unit ordinance. |
| Alfonso H. Lopez | HB925 | 01/14/2026 | Virginia Human Rights Act; unlawful discriminatory practices, civil actions, statute of limitations. |
| Alfonso H. Lopez | HB926 | 01/14/2026 | Outdoor shooting of firearm on property without reasonable care; prohibition, penalty. |
| Alfonso H. Lopez | HB935 | 01/14/2026 | Virginia Clean Energy and Battery Storage Promotion Program; established, report. |
| Alfonso H. Lopez | HB949 | 01/14/2026 | Covenants not to compete; exceptions, civil penalty. |
| Alfonso H. Lopez | HB950 | 01/14/2026 | Unmanned aircraft systems; use by public bodies, search warrant required, exceptions. |
| Alfonso H. Lopez | HB951 | 01/14/2026 | Housing and Community Development, Board of; ad hoc committees. |
| Alfonso H. Lopez and Chris S. Runion | HB952 | 01/14/2026 | Chesapeake Bay Watershed Nutrient Credit Exchange Program; certain industrial stormwater permittees. |
