12 CFR 712.5 - What activities and services are preapproved for CUSOs?
NCUA may at any time, based upon supervisory, legal, or safety and soundness reasons, limit any CUSO activities or services, or refuse to permit any CUSO activities or services. Otherwise, an FCU may invest in, loan to, and/or contract with only those CUSOs that are sufficiently bonded or insured for their specific operations and engaged in the preapproved activities and services related to the routine daily operations of credit unions. The specific activities listed within each preapproved category are provided in this section as illustrations of activities permissible under the particular category, not as an exclusive or exhaustive list.
(3) Money order, savings bonds, travelers checks, and purchase and sale of U.S. Mint commemorative coins services; and
(c) Business loan origination, including the authority to buy and sell participation interests in such loans;
(d) Consumer mortgage loan origination, including the authority to buy and sell participation interests in such loans;
(1) Developing and administering Individual Retirement Accounts (IRA), Keogh, deferred compensation, and other personnel benefit plans;
(6) Referral and processing of loan applications for members whose loan applications have been denied by the credit union;
(3) Microfilm, microfiche, optical and electronic imaging, CD-ROM data storage and retrieval services;
(n) Student loan origination, including the authority to buy and sell participation interests in such loans;
(2) Acting as trustee, guardian, conservator, estate administrator, or in any other fiduciary capacity; and
(r) CUSO investments in non-CUSO service providers: In connection with providing a permissible service, a CUSO may invest in a non-CUSO service provider. The amount of the CUSO's investment is limited to the amount necessary to participate in the service provider, or a greater amount if necessary to receive a reduced price for goods or services.
Title 12 published on 2014-01-01
no entries appear in the Federal Register after this date.