Application for authority to organize and operate a credit union shall be made to OFR per rule 69U-105.001 and chapter 69U-105, part I, F.A.C., and as follows:

Terms Used In Florida Regulations 69U-110.005

  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
    (1) The organizers of the proposed credit union shall complete and file Form OFR-U-60, Application for Authority to Organize and Operate a Credit Union (revised 10/2006), which is hereby incorporated by reference and proposed bylaws on Form OFR-U-61, Model Credit Union Bylaws (revised 10/2006), which is hereby incorporated by reference. The original shall be submitted to OFR with a nonrefundable filing fee of $250. A copy of such documents shall be submitted to the National Credit Union Administration and a copy shall be retained by the organizers.
    (2) Each proposed director, member of the supervisory committee, member of the credit committee, and executive officer shall complete the biographical report section only of Form OFR-U-10, Interagency Biographical and Financial Report (revised 6/2006) and Form OFR-U-10-A, Addendum to Form OFR-U-10 (revised 6/2006), which are hereby incorporated by reference. The original shall be submitted to OFR, a copy of such documents shall be submitted to the National Credit Union Administration, and a copy shall be retained by the organizers.
    (3) Filing; Pre-filing meeting. OFR encourages that the applicant, including a member of the proposed board of directors, meet with staff of OFR to discuss the procedures and requirements for opening a new state financial institution prior to filing an application.
    (4) All forms referenced in this rule may be obtained from the Office of Financial Regulation’s website (www.flofr.gov) or by mail by submitting a request to Office of Financial Regulation, Division of Financial Institutions, 200 East Gaines Street, Tallahassee, Florida 32399-0371.
Rulemaking Authority Florida Statutes § 655.012(2). Law Implemented Florida Statutes § 657.005. History-New 10-21-75, Amended 3-21-77, 10-13-81, Formerly 3C-30.02, 3C-30.002, Amended 10-8-95, Formerly 3C-110.005, Amended 3-6-07, 11-5-12.