By the Division of Banks

Operating At A Location Not The Main Office

A credit union may establish one or more branches or depots with approval of the Commissioner pursuant to Mass. Gen. Laws ch. 171 § 8. It is the position of the Division of Banks that a location would not rise to the level of branch or depot when the space used would enable members to file loan applications and to pick up proceeds checks if the loan is approved, but would not provide full services or allow cash transactions.

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