Wisconsin Statutes

Wis. Stat. § 186.01 (2026)

Definitions

✓ current as of July 2026

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186.01186.01 Definitions. In this chapter:

186.01(2)(2) “Credit union” means, except as specifically provided under ss. 186.41 (1) and 186.45 (1), a cooperative, nonprofit corporation, incorporated under this chapter to encourage thrift among its members, create a source of credit at a fair and reasonable cost, and provide an opportunity for its members to improve their economic and social conditions.

186.01(3)(3) “Deposit account” means an account treated as any form of savings.

186.01(3c)(3c) “Federal share insurance” means the national credit union share insurance fund under 12 USC 1783.

186.01(3m)(3m) “National board” means the national credit union administration board of the national credit union administration established under 12 USC 1752 or the managing body of any successor that is authorized to provide federal share insurance for credit unions.

186.01(4)(4) “Net worth” means the aggregate of retained earnings of a credit union, as determined according to generally accepted accounting principles, and other forms of capital approved by the director of the office of credit unions.

186.01(4m)(4m) “Public depositor” has the meaning given in s. 34.01 (4).

186.01(5)(5) “Regular reserve” means an irrevocable reserve set aside to cover losses.

186.01(7m)(7m) “Share deposit” means a balance that is established and maintained by a person at a credit union that confers membership rights to that person.

186.01(8)(8) “Vicinal industries” includes employers which operate one or more facilities within a well-defined neighborhood or urban, suburban or rural community whose limits shall not be determined by any arbitrary physical standard.

186.01 HistoryHistory: 1971 c. 193; 1973 c. 255; 1979 c. 34; 1979 c. 175 s. 53; 1979 c. 282; 1981 c. 156; 1983 a. 189; 1985 a. 29; 1995 a. 27, 151; 1997 a. 152; 2003 a. 63; 2015 a. 304.

Notes of Decisions

Cited in 3 cases, 1958–2001 · leading case: Heritage Credit Union v. Off. of Credit Unions, 2001 WI App 213 (Wis. Ct. App. 2001).

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Heritage Credit Union v. Off. of Credit Unions, 2001 WI App 213 (Wis. Ct. App. 2001). · cites it 4× “In support of its argument that the legislature did not intend that OCU regulate foreign state credit unions, Heritage first points to the definition of credit union in Wis. Stat. § 186.01 (2): "Credit union" means a cooperative, nonprofit corporation, incorporated under this…”

James Employees Credit Union v. Hawley, 87 N.W.2d 299 (Wis. 1958). · cites it 2× “Sec. 186.01, Stats. 1953, provides that a credit union may only loan its funds to its members.”

Appeal of Seacoast Anti-Pollution League, 41 U.C.C. Rep. Serv. (West) 1790 (N.H. 1984). “Wis. Stat. § 186.01 (1) (1983-84). The Wisconsin statute *732 had to be interpreted by the Bardwell court to evidence a legislative intent to protect consumers: “This is not to say that consumer/ratepayers or the public at large are not to be protected from the consequences of…”

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