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Industry Announcements & Events

NC Credit Union Division Rules Review

04 NCAC Chapter 06 Department Rules

To all interested parties:

The Credit Union Division has reviewed the proposed changes to 04 NCAC 06C .0205 in accordance with N.C.G.S §150B-19.1(c).  The fiscal note is not required.

The Credit Union Division has posted the rule here.  The rule is also available on the Office of Administrative Hearing's website via the N.C. Register at https://www.oah.nc.gov/documents/north-carolina-register.  The text for these rules will be published upon submission for permanent rules.  The tentative effective date is September 1, 2022.  If you have any questions, you may contact Deputy Administrator Tony Knox at 984-275-6730 or 6733 or email at tony.knox@nccud.nc.gov.

The Examiner

1st Qtr 2022, Volume 1

Welcome to the NC Credit Union Division's quarterly newsletter, The Examiner.  We hope you find the contents helpful and informative.

Industry Information

The NC Credit Union Act, which provides for the formation and supervision of state chartered credit unions in North Carolina, was enacted in 1915. Credit unions are unique financial institutions. They are cooperative, nonprofit associations, formed to encourage thrift among their members, create a source of credit at a fair and reasonable rate of interest, and provide an opportunity for their members to use and control their own money, in order to improve their economic and social condition. Credit unions are democratically controlled and rely on volunteers to serve on committees and boards.

Did You Know?

  • Credit unions offer members a low-cost alternative to other financial institutions. Historically, credit unions afford their members lower rates on loans, higher rates on savings, and lower fees on financial products.
  • Members’ savings in all state chartered credit unions are protected by federal deposit insurance up to $250,000 per individual depositor provided by the National Credit Union Administration.
  • Credit Union members have democratic control of the credit union and can attend & participate in regular and special membership meetings.
  • As of September 31, 2021, North Carolina is home to 31 state-chartered credit unions, serving more than 3 million members, and with assets totaling $62,214,131,587.