By the Division of Banks

Credit Union Authority To Issue Credit Cards To Low And Moderate Income Applicants Regardless Of Age

A state-chartered credit union may offer loans or extend credit to their members subject to Mass. Gen. Laws chapter 171 and the credit union's by-laws. Under Mass. Gen. Laws 171, § 59A, a state-chartered credit union may issue and honor credit cards to its members subject to the limitations set forth in the statute.

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