§ 54-109.28.  Other credit unions and specially designated common bonds.

A credit union organized under Articles 14A to 14N of this Chapter may permit membership of any other credit union organized under Articles 14A to 14N of this Chapter or other law. To facilitate the provision of financial services to underserved populations and communities, a credit union organized under Articles 14A to 14N of this Chapter may also permit membership of the following located in this State:

(1) Individuals and families that earn income at or below the federal poverty threshold as long as the account holder is at least 25 years of age.

(2) Persons residing in census tracts in North Carolina where the center of population, as defined by the United States Census Bureau, is more than 9 miles from a bank branch, as defined in G.S. 53C-1-4. If the credit union does not have a branch already present, the credit union must establish a branch located in the census tract. For purposes of this subdivision, the term "branch" shall mean an office of any credit union organized under the credit union laws of the United States, North Carolina, or another state in which deposits are received. A branch may also engage in any of the functions or services authorized to be engaged in by the credit union of which it is a branch. The term "branch" does not include a non-branch credit union business office, automated teller machine, remote deposit facility, remote service unit, customer-credit union communications terminal, point-of-sale terminal, automated credit union facility, or other direct or remote information processing device or machine, whether manned or unmanned, by means of which information relating to any financial service or transaction rendered to the public is stored and transmitted, instantaneously or otherwise, to or from a credit union or other non-credit union terminal.  (1975, c. 538, s. 1; 2026-31, s. 11(d).)