{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1327.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1327.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1327.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1327.html"}],"law_id":59413,"edition_id":1,"section_id":59413,"structure_id":15575,"section_number":"6.2-1327","catch_line":"Membership defined; field of membership","history":"Code 1950, \u00a7 6-213; 1956, c. 90; 1966, c. 584, \u00a7 6.1-204; 1968, c. 560; 1990, c. 373, \u00a7 6.1-225.23; 1999, c. 63; 2010, c. 794.","full_text":"A\n\nThe membership of a credit union shall consist of the incorporators, employees of such credit union, and other persons within the field of membership set forth in the bylaws as have: (i) been fully admitted into membership, (ii) paid any required entrance fee or annual membership fee, or both, (iii) subscribed for one or more shares, (iv) paid the initial installment thereon, and (v) complied with such other requirements as the articles of incorporation or bylaws specify.B\n\nCredit union membership shall be limited to persons within a specified field of membership, individuals within the immediate family or household of such persons, associations of such persons, other credit unions, and employees of the credit union. The field of membership specified shall be composed of one of the following:1\n\nA single group having a common bond of occupation or association;2\n\nMore than one group, each of which has a common bond of occupation or association, and each of which does not exceed 3,000 members at the time it is proposed to be included in a multiple common-bond credit union. The 3,000-member limitation shall not apply if the Commission determines that an exception on the grounds provided in subsection (d) (2) or (d) (3) of § 101 of the Credit Union Membership Access Act (12 U.S.C. § 1759) is appropriate. In making any determination under this provision, the Commission shall give consideration to the National Credit Union Administration guidelines; or3\n\nThose persons or organizations within a well-defined local community, neighborhood or rural district.\n\t\t\t\tThe Commission shall in its discretion determine whether a proposed field of membership constitutes a “well-defined local community, neighborhood or rural district.” In making such determination, the Commission shall give consideration to the definition of the term that has been adopted by the National Credit Union Administration and has become legally effective.C\n\nExcept as the board of directors may provide to the contrary in the bylaws with respect to termination of membership, once a person or entity becomes a member of a credit union in accordance with this chapter, that person or entity may remain a member of that credit union until the person or entity chooses to withdraw from the credit union.D\n\nThe board of directors may expel from the credit union any member who: (i) has not carried out his obligations to the credit union; (ii) has been convicted of a criminal offense; (iii) neglects or refuses to comply with the provisions of this chapter or of the bylaws; (iv) neglects to pay his debts, or otherwise causes financial loss to the credit union; or (v) has deceived the credit union with regard to the use of borrowed money. No member shall be so expelled until he has been informed in writing of the charges against him, and an opportunity has been given to him, after reasonable notice, to be heard.E\n\nMembers of the credit union shall not be personally liable for payment of the debts of the credit union.F\n\nThe surviving spouse of a deceased credit union member shall be eligible to become a member of the credit union to which the deceased member belonged. In no other instance shall an individual be eligible for membership in a credit union on the basis of the individual’s relationship to another person who is eligible for membership in the credit union, unless the individual is a member of the immediate family or household of such person. The board of directors of a credit union may provide in the bylaws for a less inclusive policy governing membership by virtue of relationship to another person, and such policy shall be effective.G\n\nSocieties, associations, organizations, partnerships, and corporations composed of persons who are eligible for membership may be admitted to membership in the same manner and under the same conditions as such persons.H\n\nAny individual or entity that was a member of a credit union as of July 1, 1999, may remain a member of the credit union after that date, and any group that was included in the field of membership of a credit union on that date may remain within the field of membership of that credit union after that date. The successor of an entity that was a member or was eligible for membership in a credit union or for inclusion in a field of membership on July 1, 1999, retains the status of its predecessor.","order_by":null,"text":{"0":{"id":217739,"text":"The membership of a credit union shall consist of the incorporators, employees of such credit union, and other persons within the field of membership set forth in the bylaws as have: (i) been fully admitted into membership, (ii) paid any required entrance fee or annual membership fee, or both, (iii) subscribed for one or more shares, (iv) paid the initial installment thereon, and (v) complied with such other requirements as the articles of incorporation or bylaws specify.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":217740,"text":"Credit union membership shall be limited to persons within a specified field of membership, individuals within the immediate family or household of such persons, associations of such persons, other credit unions, and employees of the credit union. The field of membership specified shall be composed of one of the following:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":217741,"text":"A single group having a common bond of occupation or association;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":217742,"text":"More than one group, each of which has a common bond of occupation or association, and each of which does not exceed 3,000 members at the time it is proposed to be included in a multiple common-bond credit union. The 3,000-member limitation shall not apply if the Commission determines that an exception on the grounds provided in subsection (d) (2) or (d) (3) of § 101 of the Credit Union Membership Access Act (12 U.S.C. § 1759) is appropriate. In making any determination under this provision, the Commission shall give consideration to the National Credit Union Administration guidelines; or","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":217743,"text":"Those persons or organizations within a well-defined local community, neighborhood or rural district.\n\t\t\t\tThe Commission shall in its discretion determine whether a proposed field of membership constitutes a “well-defined local community, neighborhood or rural district.” In making such determination, the Commission shall give consideration to the definition of the term that has been adopted by the National Credit Union Administration and has become legally effective.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"C"},"5":{"id":217744,"text":"Except as the board of directors may provide to the contrary in the bylaws with respect to termination of membership, once a person or entity becomes a member of a credit union in accordance with this chapter, that person or entity may remain a member of that credit union until the person or entity chooses to withdraw from the credit union.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B3","next_prefix":"D"},"6":{"id":217745,"text":"The board of directors may expel from the credit union any member who: (i) has not carried out his obligations to the credit union; (ii) has been convicted of a criminal offense; (iii) neglects or refuses to comply with the provisions of this chapter or of the bylaws; (iv) neglects to pay his debts, or otherwise causes financial loss to the credit union; or (v) has deceived the credit union with regard to the use of borrowed money. No member shall be so expelled until he has been informed in writing of the charges against him, and an opportunity has been given to him, after reasonable notice, to be heard.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"7":{"id":217746,"text":"Members of the credit union shall not be personally liable for payment of the debts of the credit union.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"8":{"id":217747,"text":"The surviving spouse of a deceased credit union member shall be eligible to become a member of the credit union to which the deceased member belonged. In no other instance shall an individual be eligible for membership in a credit union on the basis of the individual’s relationship to another person who is eligible for membership in the credit union, unless the individual is a member of the immediate family or household of such person. The board of directors of a credit union may provide in the bylaws for a less inclusive policy governing membership by virtue of relationship to another person, and such policy shall be effective.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"9":{"id":217748,"text":"Societies, associations, organizations, partnerships, and corporations composed of persons who are eligible for membership may be admitted to membership in the same manner and under the same conditions as such persons.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F","next_prefix":"H"},"10":{"id":217749,"text":"Any individual or entity that was a member of a credit union as of July 1, 1999, may remain a member of the credit union after that date, and any group that was included in the field of membership of a credit union on that date may remain within the field of membership of that credit union after that date. The successor of an entity that was a member or was eligible for membership in a credit union or for inclusion in a field of membership on July 1, 1999, retains the status of its predecessor.","type":"section","prefixes":["H"],"prefix":"H","entire_prefix":"H","prefix_anchor":"H","level":1,"prior_prefix":"G"}},"ancestry":[{"id":15575,"edition_id":1,"name":"Membership","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:56:27","date_modified":"2026-06-26 03:56:27","permalink":{"id":264685,"object_type":"structure","relational_id":15575,"identifier":"4","token":"6.2\/II\/13\/4","url":"\/6.2\/II\/13\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13635,"edition_id":1,"name":"Credit Unions","identifier":"13","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:26","date_modified":"2026-06-26 03:45:26","permalink":{"id":264545,"object_type":"structure","relational_id":13635,"identifier":"13","token":"6.2\/II\/13","url":"\/6.2\/II\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13000,"edition_id":1,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263685,"object_type":"structure","relational_id":13000,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59413,"structure_id":15575,"section_number":"6.2-1327","catch_line":"Membership defined; field of membership","url":"\/6.2-1327\/","token":"6.2\/II\/13\/4\/6.2-1327","metadata":false},{"id":76040,"structure_id":15575,"section_number":"6.2-1328","catch_line":"Expansion of field of membership","url":"\/6.2-1328\/","token":"6.2\/II\/13\/4\/6.2-1328","metadata":false},{"id":63933,"structure_id":15575,"section_number":"6.2-1329","catch_line":"Membership meetings; voting","url":"\/6.2-1329\/","token":"6.2\/II\/13\/4\/6.2-1329","metadata":false},{"id":72910,"structure_id":15575,"section_number":"6.2-1330","catch_line":"Special meetings","url":"\/6.2-1330\/","token":"6.2\/II\/13\/4\/6.2-1330","metadata":false}],"next_section":{"id":76040,"structure_id":15575,"section_number":"6.2-1328","catch_line":"Expansion of field of membership","url":"\/6.2-1328\/","token":"6.2\/II\/13\/4\/6.2-1328","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1327\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 6 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1956, chapter 90; in 1966, chapter 584; in 1968, chapter 560; in 1990, chapter 373; in 1999, chapter 63<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":85919,"section_number":"6.2-1302","catch_line":"Powers","order_by":null,"url":"\/6.2-1302\/"},{"id":60747,"section_number":"6.2-1317","catch_line":"Supervisory merger or transfer of assets of insolvent or financially unstable credit union","order_by":null,"url":"\/6.2-1317\/"},{"id":56398,"section_number":"6.2-1320","catch_line":"Incorporation","order_by":null,"url":"\/6.2-1320\/"},{"id":72073,"section_number":"6.2-1321","catch_line":"Certificate of authority","order_by":null,"url":"\/6.2-1321\/"},{"id":68280,"section_number":"6.2-1344","catch_line":"Voluntary merger","order_by":null,"url":"\/6.2-1344\/"},{"id":71854,"section_number":"6.2-1368","catch_line":"Accounts of fiduciaries","order_by":null,"url":"\/6.2-1368\/"}],"refers_to":false,"permalink":{"id":264687,"object_type":"law","relational_id":59413,"identifier":"6.2-1327","token":"6.2\/II\/13\/4\/6.2-1327","url":"\/6.2-1327\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1327\/","token":"6.2\/II\/13\/4\/6.2-1327","dublin_core":{"Title":"Membership defined; field of membership","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1327","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The membership of a credit union<\/span> shall consist of the incorporators, employees of such credit union<\/span>, and other persons<\/span> within the field of membership set forth in the bylaws as have: (i) been fully admitted into membership, (ii) paid any required entrance fee or annual membership fee, or both, (iii) subscribed for one or more shares<\/span>, (iv) paid the initial installment thereon, and (v) complied with such other requirements as the articles of incorporation or bylaws specify. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Credit union<\/span> membership shall be limited to persons<\/span> within a specified field of membership, individuals within the immediate family<\/span> or household<\/span> of such persons<\/span>, associations of such persons<\/span>, other credit unions<\/span>, and employees of the credit union<\/span>. The field of membership specified shall be composed of one of the following: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A single group having a common bond<\/span> of occupation or association; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> More than one group, each of which has a common bond<\/span> of occupation or association, and each of which does not exceed 3,000 members<\/span> at the time it is proposed to be included in a multiple common-bond<\/span> credit union<\/span>. The 3,000-member<\/span> limitation shall not apply if the Commission<\/span> determines that an exception on the grounds provided in subsection (d) (2) or (d) (3) of § 101 of the Credit Union<\/span> Membership Access Act (12 U.S.C. § 1759) is appropriate. In making any determination under this provision, the Commission<\/span> shall give consideration to the National Credit Union<\/span> Administration guidelines; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Those persons<\/span> or organizations within a well-defined local community, neighborhood or rural district.\n\t\t\t\tThe Commission<\/span> shall in its discretion determine whether a proposed field of membership constitutes a “well-defined local community, neighborhood or rural district.” In making such determination, the Commission<\/span> shall give consideration to the definition of the term that has been adopted by the National Credit Union<\/span> Administration and has become legally effective. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Except as the board of directors may provide to the contrary in the bylaws with respect to termination of membership, once a person<\/span> or entity<\/span> becomes a member<\/span> of a credit union<\/span> in accordance with this chapter, that person<\/span> or entity<\/span> may remain a member<\/span> of that credit union<\/span> until the person<\/span> or entity<\/span> chooses to withdraw from the credit union<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The board of directors may expel from the credit union<\/span> any member<\/span> who: (i) has not carried out his obligations to the credit union<\/span>; (ii) has been convicted of a criminal offense<\/span>; (iii) neglects or refuses to comply with the provisions of this chapter or of the bylaws; (iv) neglects to pay his debts, or otherwise causes financial loss to the credit union<\/span>; or (v) has deceived the credit union<\/span> with regard to the use of borrowed money. No member<\/span> shall be so expelled until he has been informed in writing of the charges against him, and an opportunity has been given to him, after reasonable notice, to be heard. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Members<\/span> of the credit union<\/span> shall not be personally liable for payment of the debts of the credit union<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The surviving spouse of a deceased credit union<\/span> member<\/span> shall be eligible to become a member<\/span> of the credit union<\/span> to which the deceased member<\/span> belonged. In no other instance shall an individual be eligible for membership in a credit union<\/span> on the basis of the individual’s relationship to another person<\/span> who is eligible for membership in the credit union<\/span>, unless the individual is a member<\/span> of the immediate family<\/span> or household<\/span> of such person<\/span>. The board of directors of a credit union<\/span> may provide in the bylaws for a less inclusive policy governing membership by virtue of relationship to another person<\/span>, and such policy shall be effective. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> Societies, associations, organizations, partnerships, and corporations composed of persons<\/span> who are eligible for membership may be admitted to membership in the same manner and under the same conditions as such persons<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

H.<\/span> Any individual or entity<\/span> that was a member<\/span> of a credit union<\/span> as of July 1, 1999, may remain a member<\/span> of the credit union<\/span> after that date, and any group that was included in the field of membership of a credit union<\/span> on that date may remain within the field of membership of that credit union<\/span> after that date. The successor of an entity<\/span> that was a member<\/span> or was eligible for membership in a credit union<\/span> or for inclusion in a field of membership on July 1, 1999, retains the status of its predecessor. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nMEMBERSHIP DEFINED; FIELD OF MEMBERSHIP (\u00a7 6.2-1327)\n\nA. The membership of a credit union shall consist of the incorporators,\nemployees of such credit union, and other persons within the field of membership\nset forth in the bylaws as have: (i) been fully admitted into membership, (ii)\npaid any required entrance fee or annual membership fee, or both, (iii)\nsubscribed for one or more shares, (iv) paid the initial installment thereon,\nand (v) complied with such other requirements as the articles of incorporation\nor bylaws specify.\n\nB. Credit union membership shall be limited to persons within a specified field\nof membership, individuals within the immediate family or household of such\npersons, associations of such persons, other credit unions, and employees of the\ncredit union. The field of membership specified shall be composed of one of the\nfollowing:\n\n 1. A single group having a common bond of occupation or association;\n\n 2. More than one group, each of which has a common bond of occupation or\n association, and each of which does not exceed 3,000 members at the time it is\n proposed to be included in a multiple common-bond credit union. The\n 3,000-member limitation shall not apply if the Commission determines that an\n exception on the grounds provided in subsection (d) (2) or (d) (3) of §\n 101 of the Credit Union Membership Access Act (12 U.S.C. § 1759) is\n appropriate. In making any determination under this provision, the Commission\n shall give consideration to the National Credit Union Administration\n guidelines; or\n\n 3. Those persons or organizations within a well-defined local community,\n neighborhood or rural district.\n \t\t\t\tThe Commission shall in its discretion determine whether a proposed field\n of membership constitutes a “well-defined local community, neighborhood\n or rural district.” In making such determination, the Commission shall\n give consideration to the definition of the term that has been adopted by the\n National Credit Union Administration and has become legally effective.\n\nC. Except as the board of directors may provide to the contrary in the bylaws\nwith respect to termination of membership, once a person or entity becomes a\nmember of a credit union in accordance with this chapter, that person or entity\nmay remain a member of that credit union until the person or entity chooses to\nwithdraw from the credit union.\n\nD. The board of directors may expel from the credit union any member who: (i)\nhas not carried out his obligations to the credit union; (ii) has been convicted\nof a criminal offense; (iii) neglects or refuses to comply with the provisions\nof this chapter or of the bylaws; (iv) neglects to pay his debts, or otherwise\ncauses financial loss to the credit union; or (v) has deceived the credit union\nwith regard to the use of borrowed money. No member shall be so expelled until\nhe has been informed in writing of the charges against him, and an opportunity\nhas been given to him, after reasonable notice, to be heard.\n\nE. Members of the credit union shall not be personally liable for payment of the\ndebts of the credit union.\n\nF. The surviving spouse of a deceased credit union member shall be eligible to\nbecome a member of the credit union to which the deceased member belonged. In no\nother instance shall an individual be eligible for membership in a credit union\non the basis of the individual’s relationship to another person who is\neligible for membership in the credit union, unless the individual is a member\nof the immediate family or household of such person. The board of directors of a\ncredit union may provide in the bylaws for a less inclusive policy governing\nmembership by virtue of relationship to another person, and such policy shall be\neffective.\n\nG. Societies, associations, organizations, partnerships, and corporations\ncomposed of persons who are eligible for membership may be admitted to\nmembership in the same manner and under the same conditions as such persons.\n\nH. Any individual or entity that was a member of a credit union as of July 1,\n1999, may remain a member of the credit union after that date, and any group\nthat was included in the field of membership of a credit union on that date may\nremain within the field of membership of that credit union after that date. The\nsuccessor of an entity that was a member or was eligible for membership in a\ncredit union or for inclusion in a field of membership on July 1, 1999, retains\nthe status of its predecessor.\n\nHISTORY: Code 1950, \u00a7 6-213; 1956, c. 90; 1966, c. 584, \u00a7 6.1-204; 1968, c.\n560; 1990, c. 373, \u00a7 6.1-225.23; 1999, c. 63; 2010, c. 794.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}