§ 701.1 Federal credit union chartering, field of membership modifications, and conversions
§ 701.2 Federal credit union bylaws
§ 701.3 Member inspection of credit union books, records, and minutes
§ 701.4 General authorities and duties of Federal credit union directors
§ 701.6 Fees paid by Federal credit unions
§ 701.14 Change in official or senior executive officer in credit unions that are newly chartered or are in troubled condition
§ 701.19 Benefits for employees of Federal credit unions
§ 701.20 Suretyship and guaranty
§ 701.21 Loans to members and lines of credit to members
§ 701.22 Loan participations
§ 701.23 Purchase, sale, and pledge of eligible obligations
§ 701.24 Refund of interest
§ 701.25 Loans to credit unions
§ 701.26 Credit union service contracts
§ 701.30 Services for nonmembers within the field of membership
§ 701.31 Nondiscrimination requirements
§ 701.32 Payment on shares by public units and nonmembers
§ 701.33 Reimbursement, insurance, and indemnification of officials and employees
§ 701.34 Designation of low income status
§ 701.35 Share, share draft, and share certificate accounts
§ 701.36 Federal credit union occupancy and disposal of acquired and abandoned premises
§ 701.37 Treasury tax and loan depositaries; depositaries and financial agents of the Government
§ 701.38 Borrowed funds
§ 701.39 Statutory lien

Terms Used In 12 CFR Part 701 - Organization and Operation of Federal Credit Unions

  • Decedent: A deceased person.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Equal Credit Opportunity Act: Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program. Source: OCC
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Summons: Another word for subpoena used by the criminal justice system.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.