Credit Union Regulatory Improvements Act of 2003

[AI summary unavailable — showing source text] Credit Union Regulatory Improvements Act of 2003 - Amends the Federal Credit Union Act to (FCUA) to authorize real estate lease extensions at minimal charge to credit unions that finance the construction of credit union facilities on Federal land. Permits a credit union to make investments in securities for its own account. Increases the maturity date on credit union loans from 12 years to 15 years, or longer as the National Credit Union Administration Board may allow. Increases from up to one percent to up to three percent of the total paid in and unimpaired capital and surplus the limit on an individual credit union's aggregate investment in credit union service organizations. Exempts loans to nonprofit religious organizations from restrictions placed upon member business loans relating to credit union net worth or capitalization standards. Permits a credit union to offer money transfer instruments, including electronic fund transfers, to persons in the field of membership as well as to actual members. Exempts multiple common-bond credit union mergers and conversions from certain numerical limitations on field of membership. Requires the Board to prescribe criteria for the volunt…