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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 221 : ORGANIZATION AND MANAGEMENT OF CREDIT UNION

Subchapter 007 : Corporate Credit Unions

(Cite as: 8 V.S.A. § 31704)
  • § 31704. Purposes

    A corporate credit union is a credit union whose members consist primarily of other credit unions and whose purposes are to:

    (1) accumulate and prudently manage the liquidity of its member credit unions through interlending and investment services;

    (2) act as an intermediary for credit union funds between members and other corporate credit unions;

    (3) obtain liquid funds from other credit union organizations, financial intermediaries, and other sources;

    (4) foster and promote in cooperation with other state, regional, and national corporate credit unions and credit union organizations or associations the economic security, growth, and development of member credit unions; and

    (5) Perform such other financial services of benefit to its members that are authorized by the Commissioner. (Added 2005, No. 16, § 1, eff. July 1, 2005.)