New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 97 - Investment In Credit Union Organizations
Section 97.3 - Permitted activities

Universal Citation: 3 NY Comp Codes Rules and Regs ยง 97.3

Current through Register Vol. 46, No. 12, March 20, 2024

A credit union organization may engage in the following activities:

(a) originating, investing in, purchasing, selling, servicing or otherwise dealing in, directly or through participation, loans of any type which may be made by a credit union;

(b) providing services primarily for other credit unions (e.g., accounting, auditing, clerical, consulting, data processing, investment advisory, managerial);

(c) providing tax preparation services;

(d) financing leases of personal property to members;

(e) issuing credit cards and engaging in credit card operations;

(f) opening and maintaining shared service centers in accordance with the provisions of section 97.8 of this Part; and

(g) any other activity specifically approved by the superintendent.

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