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Opinion

Opinion Summary of Selected Opinion 97-264

Date: 01/01/1997
Organization: Division of Banks
Docket Number: 97-264

This opinion was issued in 1997.

Table of Contents

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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