04 NCAC 06C .0312          INSURANCE AND GROUP PURCHASING

Credit unions may purchase, or make available, or enter into cooperative marketing arrangements (group purchasing) to facilitate its members' voluntary purchase of insurance and such other goods and services as are in the interest of improving economic and social conditions of its members.  Prior to entering into any agreement with a third party to provide goods, services, and/or insurance to its members, the Credit Union board of directors should ensure that the service is professionally researched, is needed and wanted by the members, is accurately communicated, and is carefully monitored and evaluated to ensure that such action will not have an adverse effect on the safety and soundness of the Credit Union.

 

History Note:        Authority G.S. 54‑109.12; 54‑109.75; 54‑109.77; 54‑109.92;

Eff. March 1, 1982.