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Click ‘Get Form’ to open it in the editor.
Begin by entering the name of your Federal Credit Union in the designated field. This is crucial for identifying your institution.
In the section regarding the amendment details, ensure you accurately reflect any changes made to your Plan of Operation for Insurance Sales Activities.
Complete the affirmation statement by confirming compliance with the conditions set forth in 211 CMR 142.05(2) through 211 CMR 142.05(8).
Fill in the date and sign where indicated, ensuring that a Federally-Chartered Credit Union Officer completes this step.
Finally, review all entries for accuracy before saving and exporting your completed form for submission.
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It regulates and insures all Federal credit unions and insures State-chartered credit unions that apply and qualify for share insurance.
Who governs federal credit unions?
The National Credit Union Administration (NCUA) charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions.
Who are most credit unions insured by?
State-chartered credit unions are regulated by the state supervisory authority where the credit unions main office is located and may or may not be insured by NCUA.
What does it mean to be a state-chartered credit union?
State-chartered credit unions are subject to state laws and regulations. Those laws have been enacted to meet the particular needs of citizens of that state. The legislatures that approve state laws and oversee the state regulatory authorities are sensitive to local needs and receptive to their citizen concerns.
Who regulates federally chartered banks?
National banks and federal savings associations are chartered and regulated by the Office of the Comptroller of the Currency.
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Related links
CRA Guide to Data Reporting and Collection
If the resubmission is made after the CRA data have been aggregated and made publicly available, the institution must send a complete resubmission, and should.
Amendment Form for the Plan of Operation for Insurance
MASSACHUSETTS STATE-CHARTERED CREDIT UNIONS SHOULD COMPLETE THIS FORM, SIGN, AND MAIL TO THE DIVISION OF BANKS 1000 WASHINGTON STREET, 10TH FLOOR, BOSTON, MA
209 CMR, 50.08 - Credit Union Service Organizations
(b) Application. The application must include a complete description of the credit unions proposed activity, the credit unions investment in such activity
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