LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeFinancial CodeDiv. 5Ch. 6Art. 2§ 14905 Credit Union Year-End Payments

§ 14905 Credit Union Year-End Payments

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 14905 Credit Union Year-End Payments

This law says that if a credit union pays or adds money to its members' accounts within 30 days after the end of its financial year, it counts as if the money was paid on the last day of that financial year.

Key Takeaways

  • •This rule only applies to credit unions, not to the members or depositors themselves.
  • •If the credit union pays you within 30 days after their financial year ends, it’s treated like you got the money on the last day of their financial year.
  • •This is just for record-keeping and taxes, not for when you actually get the money.

Example

A credit union's financial year ends on December 31. On January 15, they add interest to your savings account.

Even though you got the money in January, the law says it counts as if you got it on December 31 for tax and record purposes.

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

Official Source
View on CA.gov

§ 14905 Credit Union Year-End Payments

Amounts paid or credited by a credit union to its members or depositors on or before the 30th day after the close of its income year shall be deemed for all purposes as paid or credited by the credit union upon the last day of the income year. This section is applicable only to credit unions as entities and does not apply to the members or depositors thereof. (Added by renumbering Section 14907 by Stats. 1984, Ch. 303, Sec. 9.)

Last verified: January 11, 2026

Key Terms

credit unionincome yearmembers or depositors

Related Statutes

  • § 14851 Credit Union Share Issuance
  • § 14852 Credit Union Share Transfer Fees
  • § 14853 Minor Credit Union Accounts
  • § 14855 Credit Union Loan Certificates
  • § 14856 Credit Union Share Liens

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14905.
View Official Source