Arkansas Code Annotated
Ark. Code Ann. § 23-35-101 (2026)
Definition and purpose of credit union or central credit union
✓ current as of May 2026
A credit union or central credit union is a cooperative nonprofit association, incorporated in accordance with the provisions of this chapter for the twofold purpose of encouraging thrift among its members and creating a source of credit at fair and reasonable rates of interest. A credit union or central credit union provides an opportunity for its members to use and control their own money in order to improve their economic and social condition.
History. Acts 1971, No. 132, §§ 1, 2; A.S.A. 1947, §§ 67-901, 67-902.