Federally insured credit union definition

Federally insured credit union means a Federal credit union, state chartered credit union, or corporate credit union the member accounts of which are insured under the Act.
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Federally insured credit union means a federal or state-chartered credit union that maintains federal share insurance coverage from the NCUSIF.
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Federally insured credit union means any credit union the member accounts of which are insured
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Examples of Federally insured credit union in a sentence

  • The limitations on golden para- chute payments apply to troubled Fed- erally insured credit unions that seek to enter into contracts to pay or to make golden parachute payments to their IAPs. A ‘‘golden parachute pay- ment’’ is generally considered to be any payment to an IAP which is con- tingent on the termination of that per- son’s employment and is received when the Federally insured credit union making the payment is troubled.

  • This partapplies to any Federally insured credit union and its employees, including volunteers, who act as mortgage loan originators.

  • Claims for em- ployee welfare benefits or other bene- fits that are contingent, even if other- wise vested, when a liquidating agent or conservator is appointed for any Federally insured credit union, includ- ing any contingency for termination of employment, are not provable claims or actual, direct compensatory damage claims against such liquidating agent or conservator.

  • An agreement is made in order to hire a person to become an IAP at a time when the Federally insured credit union satisfies or in an effort to pre- vent it from imminently satisfying any of the criteria in § 750.1(d)(1)(ii), and NCUA, with written concurrence of the appropriate state supervisory author- ity in the case of a state chartered credit union or corporate credit union, consents in writing to the amount and terms of the golden parachute pay- ment.

  • It applies to (1) a “bank,” as defined in 31 CFR 103.11(c), that is subject to regulation by one of the Agencies, and (2) to any non- Federally insured credit union, private bank or trust company that does not have a Federal functional regulator (collectively referred to in the final rule as “a bank”).The substantive requirements of this joint final rule are being codified as part of Treasury’s BSA regulations located in 31 CFR part 103.

  • A Federally insured credit union must not make or agree to make any golden parachute payment, except as permitted by this part.

  • An agreement is made in order to hire a person to become an IAP at a time when the Federally insured credit union satisfies or in an effort to pre- vent it from imminently satisfying any of the criteria in § 750.1(e)(1)(ii), and NCUA, with written concurrence of the appropriate state supervisory author- ity in the case of a state chartered credit union or corporate credit union, consents in writing to the amount and terms of the golden parachute pay- ment.

  • Federally insured credit union means a federal or state-chartered credit union that maintains federal share insurance coverage from the NCUSIF.Financial institution means a federally insured credit union, non-federally in- sured credit union, or an insured depos- itory institution, including a liquida- tion or receivership estate of any such credit union or depository institution.

  • Payments pursuant to the plans must not exceed the accrued liability computed in accordance with GAAP.(c) Federally insured credit union means a Federal credit union, state chartered credit union, or corporate credit union the member accounts of which are insured under the Act.

  • One advisor may attend the investigative interview, but may not respond to questions for their clients or advisees, and may not pose questions.


More Definitions of Federally insured credit union

Federally insured credit union means a credit union that remains federally insured under Title II of the Federal Credit Union Act as of the end of the calendar year applicable to an NCUSIF equity distribution. This includes an open liquidation estate for a liquidated credit union that would have been considered a federally insured credit union but for its liquidation. A closed liquidation estate is considered an open liquidation estate for purposes of this section if the liquidation estate is still within any applicable look back period.
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Federally insured credit union means any credit union that has deposits that are protected by the National Credit Union Share Insurance Fund.
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Federally insured credit union means any credit union the member accounts of which are insured by the National Credit Union Share Insurance Fund.
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Federally insured credit union means any credit union whose member accounts are insured by NCUA according to the provisions of Title II of the Federal Credit Union Act (12 U.S.C. 1782 et seq.).
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Federally insured credit union. ’ or ‘‘FICU’’ means all FCUs and FISCUs . The Board believes this additional definition will add conciseness to the rule and is more favorable than repeating the phrase ‘‘FCU and FISCU’’ throughout the sections of the CUSO regulation that apply to both. In conjunction with this change, the Board also proposes to make modifications to those sections that apply to both FCUs and FISCUs to use the term ‘‘FICU’’ where applicable. The Board believes the new structure of this section proposed by this rule will add clarity to the regulation, eliminate confusion, and be more user friendly.
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Related to Federally insured credit union

  • National Flood Insurance Program means the program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a Federal insurance program.

  • Emergency medical care provider means an individual who has been trained to provide emergency and nonemergency medical care at the first responder, EMT-basic, EMT-intermediate, EMT-paramedic, paramedic specialist or other certification levels recognized by the department before 1984 and who has been issued a certificate by the department.

  • Credit Union means the registered society.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Emergency medical responder or “EMR” means an individual who has successfully completed a course of study based on the United States Department of Transportation’s Emergency Medical Responder Instructional Guidelines (January 2009), has passed the psychomotor and cognitive examinations for the EMR, and is currently certified by the department as an EMR.

  • Emergency medical care means such medical procedures as:

  • Licensed financial institution means a financial institution issued a license under this act.

  • Emergency Medical Transportation means the transportation, by ambulance, of sick, injured or otherwise incapacitated persons who require emergency medical care.

  • Health facility means the medical college and hospital or the teaching hospital or the district/ sub-division etc. hospital to which the goods and/ or services under the contract shall be supplied.

  • insurance agent means, subject to subsection (2), any person who for any compensation and through any medium does one or more of the following:

  • CREFC® Significant Insurance Event Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Interest Significant Insurance Event Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Master association means an organization that is authorized to exercise some or all of the powers of one or more associations on behalf of one or more common interest communities or for the benefit of the unit owners of one or more common interest communities.

  • Credit union service organization means an organization, corporation, or association whose membership or ownership is primarily confined or restricted to credit unions or organizations of credit unions and whose purpose is primarily designed to provide services to credit unions, organizations of credit unions, or credit union members.

  • Medical Reimbursement Programs means a collective reference to the Medicare, Medicaid and TRICARE programs and any other health care program operated by or financed in whole or in part by any foreign or domestic federal, state or local government and any other non-government funded third party payor programs.