Commandant (G-PS-2)
MAILING ADDRESS
United States Coast Guard
Washington, DC 20593-0001
Phone: (202) 267-2242
COMDTINST 5381.2
13 SEP 1990
COMMANDANT INSTRUCTION 5381.2
Subj:
Policy On Coast Guard Support Of Credit Unions
Ref:
(a)
Federal Credit Union Act, 12 U.S.C. Sec. 1751, et. seq. (NOTAL)
1.
PURPOSE. This Instruction sets forth Coast Guard policy concerning support of credit
unions and publishes guidelines to govern the nature of their relationship with Coast Guard
commands. This Instruction provides guidance on the level of logistic and administrative
support to be provided by Coast Guard commands.
2.
DEFINITIONS.
a.
Credit Union. A cooperative association organized in accordance with the provisions
of either reference (a) or applicable State law for the purpose of promoting thrift among
its members and creating a source of credit for provident or productive purposes.
b.
Federal Credit Union. As used in this Instruction, means a credit union incorporated
under reference (a).
3.
BACKGROUND. Reference (a) confers upon Federal credit unions the status of legal
entities having specific powers and restrictions, and subjects them to examination by the
National Credit Union Administration. Credit union membership is limited by law to groups
having a common bond of occupation, association, or residence. Federal credit unions are
private organizations not under the control of the Coast Guard. Credit unions are expected to
comply with the requirements of any applicable State or local laws governing their operation.
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