(1) “Credit union”, a not-for-profit corporation organized for the purposes of encouraging thrift among
its members, creating a source of credit at a fair and reasonable rate of interest,
providing for the mutual benefit and general welfare of its members with the earnings,
savings, benefits, and services being distributed to its members, for financial and
financially related services, and for an opportunity for its members to improve their
economic and social conditions;
(2) “Director”, the director of the division of credit unions.
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