State Codes and Statutes

State Codes and Statutes

Statutes > Wisconsin > 186 > 186.325

186.325

186.325 National corporate central credit union.

186.325(1)

(1) Criteria. A corporate central credit union is a national corporate central credit union if all of the following conditions are met:

186.325(1)(a)

(a) Its membership consists of any of the following:

186.325(1)(a)1.

1. Central or corporate central credit unions that are organized under the laws of this state or another state or under federal law.

186.325(1)(a)2.

2. Officers and directors of the qualifying corporate central credit union.

186.325(1)(a)3.

3. Organizations operated primarily to service and otherwise assist credit union operations.

186.325(1)(b)

(b) Its membership does not include any of the following:

186.325(1)(b)1.

1. Credit unions other than those under par. (a) 1.

186.325(1)(b)2.

2. Individuals other than those under par. (a) 2.

186.325(1)(c)

(c) At least 75% of its savings and deposits are derived from members under par. (a) 1. and the remainder of its savings and deposits are derived from members under par. (a) 2. and 3.

186.325(2)

(2) Borrowing limits. The borrowing limits under s. 186.112 do not apply to a national corporate central credit union.

186.325 - ANNOT.

History: 1995 a. 151.