The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 1st Regular Session, which convenes in January 2021.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. The purposes of a corporate credit union are to:
1. Accumulate and prudently manage the liquidity of its member credit unions through inter-lending and investment services.
2. Act as an intermediary for credit union monies between members and other corporate credit unions.
3. Obtain liquid monies from other credit union organizations, financial intermediaries and other sources.
4. Foster and promote in cooperation with other corporate credit unions and credit union organizations or associations the economic security, growth and development of member credit unions.
5. Provide payment systems and correspondent services to its members.
6. Perform other services and provide other benefits for its members as required.
B. Membership in the corporate credit union consists of and is limited to credit unions incorporated under this chapter, the federal credit union act or any other credit union law, organizations or associations owned by or composed of credit unions and corporations or associations which primarily serve credit unions.