About: Federal Credit Union Act

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The Federal Credit Union Act is an Act of Congress enacted in 1934. The purpose of the law was to make credit available and promote thrift through a national system of nonprofit, cooperative credit unions. This Act established the federal credit union system and created the Bureau of Federal Credit Unions, the predecessor to the National Credit Union Administration, to charter and oversee federal credit unions. The general provisions in the Federal Act were based on the Massachusetts Credit Union Act of 1909, and became the basis of many other state credit union laws. Under the provisions of the Federal Credit Union Act, a credit union may be chartered under either federal or state law, a system known as dual chartering, which is still in existence today.

Attributes	Values
rdf:type	yago:WikicatCreditUnionsOfTheUnitedStates yago:Abstraction100002137 yago:CreditUnion108234628 yago:DepositoryFinancialInstitution108420278 yago:FinancialInstitution108054721 yago:Group100031264 yago:Institution108053576 yago:Organization108008335 yago:YagoLegalActor yago:YagoLegalActorGeo yago:YagoPermanentlyLocatedEntity Band yago:SocialGroup107950920
rdfs:label	Federal Credit Union Act (en)
rdfs:comment	The Federal Credit Union Act is an Act of Congress enacted in 1934. The purpose of the law was to make credit available and promote thrift through a national system of nonprofit, cooperative credit unions. This Act established the federal credit union system and created the Bureau of Federal Credit Unions, the predecessor to the National Credit Union Administration, to charter and oversee federal credit unions. The general provisions in the Federal Act were based on the Massachusetts Credit Union Act of 1909, and became the basis of many other state credit union laws. Under the provisions of the Federal Credit Union Act, a credit union may be chartered under either federal or state law, a system known as dual chartering, which is still in existence today. (en)
dcterms:subject	Credit unions of the United States 1934 in law United States federal banking legislation New Deal legislation History of banking in the United States
Wikipage page ID	6265747 (xsd:integer)
Wikipage revision ID	1108848103 (xsd:integer)
Link from a Wikipage to another Wikipage	Credit unions of the United States 1934 in law United States federal banking legislation Edward Filene Franklin D. Roosevelt Franz Hermann Schulze-Delitzsch Cooperative Credit Credit unions in the United States State law (United States) New Deal legislation Dual chartering Credit unions Law of the United States Alphonse Desjardins (co-operator) Nonprofit History of credit unions United States Government Publishing Office History of banking in the United States Act of Congress Code of Federal Regulations Bureau of Federal Credit Unions Pierre Jay National Credit Union Administration National Credit Union Administration v. First National Bank & Trust Co. Roy Bergengren
Link from a Wikipage to an external page	https://www.govinfo.gov/help/comps https://www.govinfo.gov/app/details/COMPS-264/ https://www.govinfo.gov/content/pkg/COMPS-264/pdf/COMPS-264.pdf https://www.govinfo.gov/content/pkg/COMPS-264/uslm/COMPS-264.xml https://www.ecfr.gov/current/title-12/chapter-VII
sameAs	Federal Credit Union Act Federal Credit Union Act Federal Credit Union Act Federal Credit Union Act
dbp:wikiPageUsesTemplate	dbt:Reflist dbt:Short_description dbt:Ubl dbt:Ussc dbt:Infobox_United_States_proposed_legislation dbt:Bank_regulation_in_the_United_States
signeddate	1934-06-26 (xsd:date)
signedpresident	Franklin D. Roosevelt
has abstract	The Federal Credit Union Act is an Act of Congress enacted in 1934. The purpose of the law was to make credit available and promote thrift through a national system of nonprofit, cooperative credit unions. This Act established the federal credit union system and created the Bureau of Federal Credit Unions, the predecessor to the National Credit Union Administration, to charter and oversee federal credit unions. The general provisions in the Federal Act were based on the Massachusetts Credit Union Act of 1909, and became the basis of many other state credit union laws. Under the provisions of the Federal Credit Union Act, a credit union may be chartered under either federal or state law, a system known as dual chartering, which is still in existence today. Credit union law in the U.S. built on earlier legislation such as that developed by Franz Hermann Schulze-Delitzsch in Germany and Alphonse Desjardins in Canada. Among the individuals responsible for formulating credit union legislation in the United States were Edward Filene, Pierre Jay and Roy Bergengren. The Act is amended periodically to evolve and remain a modern credit union law. This contemporary law, coupled with the NCUA Board's commitment to reduce regulatory burden, enables federal credit unions to offer a variety of services to meet the financial needs of their members. For example, in addition to basic passbook share, many federal credit unions offer share drafts, share certificates, and credit cards. Federal credit unions organized and operated in accordance with the Federal Credit Union Act are considered entities of the United States government and are tax-exempt under savings accounts. (en)
Acronym	FCUA (en)
agenciesaffected	National Credit Union Administration
sections created	12 (xsd:integer)
gold:hypernym	Act
prov:wasDerivedFrom	wikipedia-en:Federal_Credit_Union_Act?oldid=1108848103&ns=0
page length (characters) of wiki page	6167 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Federal_Credit_Union_Act
is Link from a Wikipage to another Wikipage of	List of United States federal legislation, 1901–2001 List of acts of the 105th United States Congress List of acts of the 113th United States Congress List of bills in the 113th United States Congress List of United States Supreme Court cases by the Rehnquist Court Paycheck Protection Program J. Mark McWatters Credit Union Share Insurance Fund Parity Act Sponge tax Edward Filene Morris Sheppard Credit Union Membership Access Act Credit Union National Extension Bureau Credit union Credit union league Credit unions in the United States Call Federal Credit Union 501(c) organization Dual chartering June 26 America's Credit Union Museum American Savings Promotion Act Central Liquidity Facility Goldenwest Credit Union History of banking in the United States Michael E. Fryzel Bureau of Federal Credit Unions

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