A credit union is a cooperative, nonprofit association, incorporated under this chapter to encourage thrift among its members, to create sources of credit at fair and reasonable rates of interest, and to provide an opportunity for its members to use and control their resources on a democratic basis in order to improve their economic and social condition.
Utah Code § 7-9-2
Description of credit unions
Applied in 1 court decision — leading case Utah Bankers Ass'n v. America First Credit Union (1999)
Most recently applied in Utah Bankers Ass'n v. America First Credit Union (January 1999)
Enacted by Chapter 16, 1981 General Session
Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.