How may a credit union apply to engage in an activity that is not preapproved as within a credit union's incidental powers?

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (1) Whether the activity is convenient or useful in carrying out the mission or business of credit unions consistent with the Act; (2) Whether the activity is the functional equivalent or logical outgrowth of activities that are part of the mission or business of credit unions; and (3) Whether the activity involves risks similar in nature to those already assumed as part of the business of credit unions.

official document · source cfr-2024 · id 12:§ 721.4