Turf Wars: Banks v. Credit Unions
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Authors
Crotty, Michael F.
Issue Date
1997
Volume
30
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
FIRST PARAGRAPH(S)|The Federal Credit Union Act was enacted in 1934 in order to "make more available to people of small means credit for provident purposes." Section 109 of the Act provided then and provides now that federal credit union membership shall be limited to groups having a common bond of occupation or association or to groups within a well-defined neighborhood, community or rural district.|The term "common bond" as it appears in section 109 of the Act has long been understood to be a "pre-existing condition which causes the members of a group to associate together." The National Credit Union Administration, the regulatory agency for federal credit unions, has excluded as a group ineligible for a federal credit union charter, members of a group "organized primarily for the purpose of providing a field of membership for a Federal credit union."...
Description
Citation
30 Creighton L. Rev. 657 (1996-1997)
Publisher
Creighton University School of Law