Credit Union Code - Title 17 Pa. C.S.A.

Chapter 5
Section 502 - Powers of Central or Corporate Credit Unions
 
12/29/08
Credit Union System Investment Program
Deputy Secretary’s Letter states that credit unions that are eligible to participate in the Credit Union System Investment Program (“CU SIP”) announced by the National Credit Union Administration Board (“NCUA”) are pre-approved to borrow from the National Credit Union Administration Central Liquidity Facility (“CLF”) and invest the proceeds from such borrowings in CU SIP Notes consistent with the terms of the CU SIP in parity with the ability of federally-chartered credit unions, notwithstanding the restrictions of Section 511(b) of the Credit 
 
 
Section 511 - Power to Borrow

12/29/08
Credit Union System Investment Program
Deputy Secretary’s Letter states that credit unions that are eligible to participate in the Credit Union System Investment Program (“CU SIP”) announced by the National Credit Union Administration Board (“NCUA”) are pre-approved to borrow from the National Credit Union Administration Central Liquidity Facility (“CLF”) and invest the proceeds from such borrowings in CU SIP Notes consistent with the terms of the CU SIP in parity with the ability of federally-chartered credit unions, notwithstanding the restrictions of Section 511(b) of the Credit Union Code.