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Section 17:13-73.1 - Purposes of corporate central credit union; application of Credit Union Act of 1984

NJ Rev Stat § 17:13-73.1 (2019) (N/A)
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17:13-73.1. Purposes of corporate central credit union; application of Credit Union Act of 1984

The corporate central credit union shall subject to all parts of "The Credit Union Act of 1984," P.L.1984, c. 171, sections 2 to 46 (C. 17:30-80 to C. 17:13-124) not inconsistent with these amendatory and supplementary sections.

A corporate central credit union shall be a nonprofit association, the purpose of which is:

a. To assist in the management of the liquidity of its member credit unions through interlending and investment and related services;

b. To act as an intermediary for the movement of credit union funds between member credit unions and other corporate credit unions;

c. To obtain funds from other credit union organizations, financial intermediaries, and other sources;

d. To foster and promote, in cooperation with other state, regional, and national central credit unions and credit union organizations or associations, the economic security, growth and development of member credit unions; and

e. To perform any other financial services or benefit to its members which are authorized by the commissioner.

L.1984, c. 171, s. 50, eff. Oct. 31, 1984.

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