§ 6-591 – Organization

6-591. Organization A corporate credit union shall be organized in the manner provided for the organization of a credit union in section 6-506.

§ 6-592 – Purposes; membership

6-592. Purposes; membership A. The purposes of a corporate credit union are to: 1. Accumulate and prudently manage the liquidity of its member credit unions through inter-lending and investment services. 2. Act as an intermediary for credit union monies between members and other corporate credit unions. 3. Obtain liquid monies from other credit union organizations, […]

§ 6-593 – Powers of corporate credit union; federal parity

6-593. Powers of corporate credit union; federal parity A. A corporate credit union shall enjoy the powers and privileges of any other credit union incorporated under this chapter and in addition may: 1. Accept share accounts or deposit accounts from its members, state or federal credit unions, other corporate credit unions and credit union organizations […]

§ 6-594 – Participation in central system

6-594. Participation in central system A corporate credit union may enter into agreements and subscribe to any required shares for the purpose of participation in the national credit union administration central liquidity facility or in any other state or federal central liquidity facility or central financial system available to credit unions. It may also enter […]

§ 6-595 – Reserves

6-595. Reserves A. A corporate credit union shall establish and maintain a corporate reserve in accordance with the reserve requirements of the national credit union administration for federal corporate credit unions. B. A corporate credit union may make charges to the corporate reserve for losses on risk assets and to meet such other classes of […]