§ 14405 Credit Union Membership Rules

Financial Code·California

AI SummaryVerified

This law says credit unions can join groups like business organizations or nonprofits, and pay membership fees.

Key Takeaways

•Credit unions can join groups like business organizations or nonprofits.
•They can pay membership fees for these groups.
•The credit union's board must approve joining a nonprofit.

Example

A local credit union wants to join the Chamber of Commerce to help local businesses.

The credit union can join and pay the membership fees because the law allows it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 14405 Credit Union Membership Rules

Every credit union may: (a) (1) Become a member of any organization or organizations composed of credit unions, credit associations, chambers of commerce, financial institutions, community economic development entities, or business or trade organizations. (2) Become a member of any nonprofit organization approved by the board of directors. (b) Pay dues and assessments as may be levied upon it by any organization of which it is a member. (Amended by Stats. 2007, Ch. 148, Sec. 2. Effective January 1, 2008.)

Last verified: January 11, 2026

Key Terms

credit unions member nonprofit organization board of directors dues and assessments

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 14405.

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Key Takeaways

Example

Key Terms

Related Statutes

References