The Credit Union Commission was created in 1971 by N.C.G.S. §143B-439. The Commission is composed of seven members who are appointed by the Governor for a term of four years. The following requirements must be met:
- Three members must have had three years or more experience as a credit union director or in management of a state chartered credit union.
- Four members represent the borrowing public and may be members of a credit union, but shall not be employed by or a director of any financial institution or have any interest in any financial institution other than as a result of being a depositor or borrower.
- No two persons on the Commission can be residents of the same state senatorial district.
- No member can serve on a board of directors or be employed by another type of financial institution.