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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
221
:
ORGANIZATION AND MANAGEMENT OF CREDIT UNION
Subchapter
007
:
CORPORATE CREDIT UNIONS
§
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.)