Federal Credit Unions: Hearings Before Subcommittee No. 3 of the Committee on Banking and Currency, House of Representatives, Eighty-sixth Congress, First Session. May 11, 12, and 13, 1959

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U.S. Government Printing Office, 1959 - 159 σελίδες
 

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Δημοφιλή αποσπάσματα

Σελίδα 40 - Every credit union is a cooperative institution organized "for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes.
Σελίδα 41 - To receive from its members payments on shares. (7) To invest its funds (a) in loans exclusively to members; (b) in obligations of the United States of America, or securities fully guaranteed as to principal and interest thereby; (c) in accordance with rules and regulations prescribed by the...
Σελίδα 49 - Federal Credit Union Act". (June 26, 1934, c. 750, § 1, 48 Stat. 1216.) Act of June 26, 1934, cited to the text, was entitled "An Act to establish a Federal Credit Union System, to establish a further market for securities of the United States...
Σελίδα 50 - States, and a bill embodying such compromise was presented to the Committee on Banking and Currency of the House of Representatives on...
Σελίδα 42 - 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.
Σελίδα 43 - At their first meeting after the annual meeting of the members, the directors shall elect from their number a president, one or more vice presidents, a secretary, and a treasurer, who shall be the executive officers of the corporation. No executive officer, except the treasurer, shall be compensated as such. The offices of secretary and treasurer may be held by the same person.
Σελίδα 44 - No loan shall be made unless approved by a majority of the entire committee and by all of the members of the committee who are present at the meeting at.
Σελίδα 48 - Board or the Bureau of Federal Credit Unions, Department of Health, Education, and Welfare...
Σελίδα 46 - State credit union, organized under the laws of any State, the District of Columbia, the several Territories and possessions of the United States, the Panama Canal Zone, or the Commonwealth of Puerto Rico...
Σελίδα 44 - ... them the power to approve loans up to the unsecured limit, or in excess of such limit if such excess is fully secured by unpledged shares. Each loan officer shall furnish to the credit committee a record of each loan approved or not approved by him within seven days of the date of the filing of the application therefor. All loans not approved by a loan officer shall be acted upon by the...

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