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HomeFinancial CodeDiv. 5Ch. 5§ 14800 Credit Union Membership Requirements

§ 14800 Credit Union Membership Requirements

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 14800 Credit Union Membership Requirements

This law says a credit union can let new members join only if they meet certain conditions, and no one can approve a member unless they follow those rules.

Key Takeaways

  • •Membership can be granted by buying a membership, paying an entrance fee, or buying shares.
  • •Only people who meet one of those conditions can be admitted.
  • •Staff and officials must follow the rules when approving new members.
  • •The rules don’t stop the credit union from working with other groups that help members.

Example

A person wants to join a local credit union after buying a membership package.

The credit union can let the person become a member because they purchased a membership as allowed by the credit union’s rules.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 14800 Credit Union Membership Requirements

(a) Every credit union may admit to membership those persons qualified for membership upon the occurrence of any of the following: (1) Upon the purchase of a membership in the credit union as provided in the credit union’s bylaws. (2) Upon the payment of an entrance fee established from time to time by the board of directors. (3) Upon the purchase of one or more shares in the credit union as provided in the credit union’s bylaws. (b) No officer, director, committee member, or employee of any credit union shall approve a person for admission to membership or admit an applicant for membership in the credit union or extend any benefit or service of the credit union to any person, unless that person is admitted to membership in the credit union pursuant to subdivision (a). (c) Nothing in subdivisions (a) and (b) shall be construed to limit the powers of a credit union to engage in joint service programs or business relationships for the benefit of their members where some incidental benefit may flow to third parties to the transaction or the authority for a credit union to engage in joint loan programs pursuant to Section 14959. (d) Nothing in this section prohibits a credit union from admitting to membership a corporation in which the credit union holds shares pursuant to Section 14650 or a corporation formed to provide services to credit unions or to credit union members in which the credit union holds shares or a limited liability company formed to provide services to credit unions or to credit union members in which the credit union holds membership or economic interests pursuant to Section 14651. (Amended by Stats. 2000, Ch. 411, Sec. 3. Effective September 12, 2000.)

Last verified: January 11, 2026

Key Terms

credit unionmembershipbylawsentrance feesharescorporationlimited liability company

Related Statutes

  • § 14861 Credit Union Share Issuance
  • § 4922 Conversion Articles Bylaws Approval
  • § 4923 Shareholder Information Requirements
  • § 1121 Bank Share Payment Requirement
  • § 1122 Bank Share Issuance Restrictions

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14800.
View Official Source