insured credit union

(iv) An insured credit union as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752(7)) or a credit union that is eligible to make application to become an insured credit union pursuant to section 201 of such act (12 U.S.C. 1781);

Source

12 CFR § 201.2


Scoping language

For purposes of this part, the following definitions shall apply:

Is this correct? or