§ 23-35-101 - Definition and purpose of credit union or central credit union. - Arkansas Statutes

23-35-101. Definition and purpose of credit union or central credit union.

A credit union or central credit union is a cooperative nonprofit association, incorporated in accordance with the provisions of this chapter for the twofold purpose of encouraging thrift among its members and creating a source of credit at fair and reasonable rates of interest. A credit union or central credit union provides an opportunity for its members to use and control their own money in order to improve their economic and social condition.