State Codes and Statutes
Statutes > Vermont > Title-08 > Chapter-221 > 31704
§ 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.)
