Wisconsin Administrative Code
Department of Financial Institutions
DFI-CU 51-75 - Department of Financial Institutions-Credit Unions
Chapter DFI-CU 72 - Member business loans
Section DFI-CU 72.06 - Member business loan policy requirements

(1) The types of business loans the credit union will make.

(2) The credit union's trade area.

(3) The maximum amount of the credit union's assets, in relation to net worth, that it will invest in member business loans.

(4) The maximum amount of the credit union's assets, in relation to net worth, that it will invest in a given type of business loan.

(5) The maximum amount of the credit union's assets, in relation to net worth, that it will loan to a member or associated members, subject to s. DFI-CU 72.08.

(6) The qualifications and experience of personnel involved in making and administering business loans.

(7) A requirement for analysis and documentation of the ability of the borrower to repay the loan.

(8) A requirement for the receipt and periodic updating of financial statements and other documentation, including tax returns.

(9) A requirement for documentation sufficient to support each request to extend credit, or increase an existing loan or line of credit, except where the board of directors finds that the required documentation is not generally available for a particular type of loan and states the reasons for those findings in the credit union's written policies. The documentation shall include all of the following:

(10) Collateral requirements, including all of the following:

(11) The interest rates and maturities of the business loans.

(12) General loan procedures, including all of the following:

(13) Identification of those individuals prohibited from receiving member business loans.

(14) Guidelines for purchase and sale of member business loans and loan participations, if the credit union intends to engage in these activities.