Credit Union Regulatory Improvements Act of 2005

[AI summary unavailable — showing source text] Credit Union Regulatory Improvements Act of 2005 - Amends the Federal Credit Union Act to reduce the minimum net worth ratio requirements of well-capitalized, adequately capitalized, under capitalized, and significantly undercapitalized credit unions. Sets the minimum risk-based net ratio at 8%. Revises the requirement that the National Credit Union Administration Board design the risk-based net worth standard to take account of any material risks to insured credit unions. Requires the standard to be designed in relation to risk assets, and to be based on comparable standards for taking into account material risks to insured depository institutions under the Federal Deposit Insurance Act that are applicable to credit unions. Revises definitions relating to net worth of credit unions. Cites circumstances in which the Board may waive the requirement that an undercapitalized credit union submit an acceptable net worth restoration plan. Revamps guidelines governing limits and restrictions on member business loans. Authorizes credit unions to lease to any business enterprise separate and clearly distinct space in buildings in credit union offices in underserved areas. Permits a credit u…