122.014 – UNDERSERVED-AREA CREDIT UNION. (a) In this
Texas Finance Code § 122.014
Summary
This law allows credit unions to apply for designation as underserved-area credit unions, which can help them access secondary capital accounts. This designation is aimed at enhancing financial services in areas lacking sufficient credit options, benefiting both the credit unions and their communities.
Credit unions can apply for underserved-area designation.
Secondary capital accounts must exceed $100,000.
Designation helps improve financial services in underserved areas.
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In simple terms: Learn about Texas's UNDERSERVED-AREA CREDIT UNION. (a) In this law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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