20 CSR 1100-2.130 - Credit Union Investments: United States Government Securities and Obligations

PURPOSE: This rule lists those United States government securities and obligations that are acceptable investments for credit unions (see section 370.075(1), RSMo for statutory requirements).

(1) The following list of securities and obligations of the federal government of the United States of America is approved for investment by Missouri credit unions: United States Savings and Treasury Bonds acquired by a direct purchase, Federal Intermediate Credit Bank Debentures, Federal Home Loan Bank Notes, Federal Home Loan Bank Board Debentures, Federal Land Bank Bonds, Federal National Mortgage Association, and Government National Mortgage Association.

(2) In addition, any state-chartered credit union may invest in any instrument that is acceptable for a federal credit union to invest in under federal rules and regulations.

(3) The listed investments are considered safe for all credit unions without regard to their size or management ability.

(A) Further, credit unions are cautioned to take adequate time and thought before investing in long-term, nonredemptiontype securities.

(B) Subsidiary ledgers shall be maintained to detail multiple investment transactions.

Notes

20 CSR 1100-2.130

AUTHORITY: section 370.100, RSMo 2000.* This rule originally filed as 4 CSR 100-2.130. Original rule filed Sept. 14, 1972, effective Sept. 24, 1972. Amended: Filed Dec. 15, 1975, effective Dec. 25, 1975. Amended: Filed Aug. 13, 1980, effective Jan. 30, 1981. Amended: Filed May 4, 1987, effective July 23, 1987. Moved to 20 CSR 1100-2.130, effective Aug. 28, 2006. Amended: Filed April 29, 2008, effective Nov. 30, 2008.

*Original authority: 370.100, RSMo 1939, amended 1945, 1945, 1949, 1959, 1967, 1972.