Terms Used In Oregon Statutes > Chapter 723 > Corporate Central Credit Union

• Capital: means a credit union's reserves, undivided earnings and allowances for loan loss. See Oregon Statutes 723.001
• Corporate central credit union: means a cooperative organization whose members consist primarily of other credit unions and whose purposes are:

  (a) To accumulate and prudently manage the liquidity of its member credit unions through interlending and investment services;

  (b) To act as an intermediary for member credit unions to the payment systems and facilitate funds transfers between its member credit unions and other financial institutions or their agents;

  (c) To obtain liquid funds from other credit union organizations, financial intermediaries and other sources; and

  (d) To perform such other financial services that benefit its member credit unions and that are authorized in writing by the Director of the Department of Consumer and Business Services. See Oregon Statutes 723.001

• Department: means the Department of Consumer and Business Services. See Oregon Statutes 723.001
• Director: means the Director of the Department of Consumer and Business Services. See Oregon Statutes 723.001
• local government: means all cities, counties and local service districts located in this state, and all administrative subdivisions of those cities, counties and local service districts. See Oregon Statutes 174.116
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Regular reserve: means an irrevocable reserve set aside to cover losses. See Oregon Statutes 723.001