(a) A credit union may permit officers, directors, and members of its supervisory and credit committees to act as comakers, guarantors or endorsers of loans to other members, subject to the requirements of subsection (b) of this section.
(b) A credit union may make loans to its officers, directors and members of its supervisory and credit committees: Provided, That:
(1) The loan complies with all requirements of this chapter and is not on terms more favorable than those extended to other borrowers; and