1. a. A state credit union organized in accordance with this chapter shall include the words “credit union” in its name.

 b. All state credit union offices shall be identified by use of the state credit union’s full name.
 c. The full name of a state credit union shall be used in all legal documents of the state credit union.

Terms Used In Iowa Code 533.212

  • credit union: is a lso a "supervised financial organization" as that term is defined and used in chapter 537, the Iowa consumer credit code. See Iowa Code 533.102
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • State credit union: means a credit union organized pursuant to section 533. See Iowa Code 533.102
 2. a. A person other than a credit union shall not use a name or title containing the words “credit union”, or any derivation, and shall not represent in advertising or otherwise that the person is conducting business as a credit union, except as provided in subsection 3.

 b. A person who violates paragraph “a” may be enjoined from the use of words, advertising, or other representation prohibited by paragraph “a”.
 3. The prohibitions contained in subsection 2 do not apply to any of the following entities:

 a. A credit union organized under this chapter or the laws of another state.
 b. A credit union organized under the Federal Credit Union Act, 12 U.S.C. § 1751 et seq.
 c. The Iowa credit union league, a chapter, affiliate, or subsidiary of the Iowa credit union league or a political action committee formed pursuant to the Federal Election Campaign Act, 2 U.S.C. § 431 et seq., or chapter 68A by the Iowa credit union league or by credit unions organized under this chapter or federal law.
 d. A joint service center operated by two or more credit unions where credit union services are made available to credit union members.
 e. An organization formed for educational purposes in association with an accredited elementary or secondary school that engages in receipt of deposits of no more than twenty dollars per depositor and uses the words “educational credit union” in its name. An educational credit union must be affiliated with a state credit union organized under this chapter. Notwithstanding this recognition given to an educational credit union, an educational credit union is not a state credit union within the scope or regulation of this chapter.
 4. A credit union organized in accordance with this chapter shall not include the name of any public university located in the state in its name. For purposes of this subsection, “public university located in the state” shall mean the state university of Iowa, the Iowa state university of science and technology, and the university of northern Iowa.
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