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Charitable Donation Accounts

NCUA · final-rule · Published 2013-12-19 · Effective 2013-12-19 · 78 FR 76728

Document

Document number
2013-30103
Federal Register citation
78 FR 76728
CFR reference
12 CFR 703
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2013-12-19
Effective date
2013-12-19

Abstract

The NCUA Board (Board) is issuing a final rule to amend its regulations to clarify that federal credit unions are authorized to create and fund a charitable donation account, a hybrid charitable and investment vehicle, as an activity incidental to the business for which the credit union is chartered, provided the account is primarily charitable in nature and meets other regulatory conditions to ensure safety and soundness.

Source

Authoritative
Federal Register document
Machine
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