17:13-73.1 - Purposes of corporate central credit union; application of Credit Union Act of 1984 - New Jersey Statutes

17:13-73.1.  Purposes of corporate central credit union;  application of Credit Union Act of 1984
    The corporate central credit union shall subject to all parts of  "The Credit Union Act of 1984,"  P.L.1984, c. 171, sections 2 to 46 (C. 17:30-80 to C. 17:13-124) not inconsistent with these amendatory and supplementary sections.

    A corporate central credit union shall be a nonprofit association, the purpose of which is:

    a.  To assist in the management of the liquidity of its member credit unions  through interlending and investment and related services;

    b.  To act as an intermediary for the movement of credit union funds between  member credit unions and other corporate credit unions;

    c.  To obtain funds from other credit union organizations, financial intermediaries, and other sources;

    d.  To foster and promote, in cooperation with other state, regional, and national central credit unions and credit union organizations or associations, the economic security, growth and development of member credit unions;  and

    e.  To perform any other financial services or benefit to its members which  are authorized by the commissioner.

     L.1984, c. 171, s. 50, eff. Oct. 31, 1984.