New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 96 - Lending Limits For Credit Unions
Section 96.4 - Unsecured loans
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 96.4
Current through Register Vol. 46, No. 12, March 20, 2024
A credit union may make loans to a member which are not secured by a member's unhypothecated shares or by shares pledged by other members in an amount not exceeding 15 percent of the net worth of the credit union, provided that any credit union may make unsecured loans to a member in an amount of at least $5,000.
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