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Opinion  Summary of Selected Opinion 97-215

Date: 11/01/1997
Organization: Division of Banks
Docket Number: 97-215

This opinion was issued in the fourth quarter of 1997.

Table of Contents

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 Massachusetts 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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