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Current as of January 01, 2024 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Vermont Statutes Title 8. Banking and Insurance, § 31704. Purposes - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-8-banking-and-insurance/vt-st-tit-8-sect-31704/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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