Vt. Stat. tit. 8 § 31704

Current through L. 2024, c. 185.
Section 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.

8 V.S.A. § 31704

Added 2005, No. 16, § 1, eff. 7/1/2005.