| Date: | 11/01/1997 |
|---|---|
| Organization: | Division of Banks |
| Docket Number: | 97-215 |
This opinion was issued in the fourth quarter of 1997.
- This page, Summary of Selected Opinion 97-215, is offered by
- Division of Banks
Opinion
Opinion Summary of Selected Opinion 97-215
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.