§ 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.)