{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1376.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1376.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1376.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1376.html"}],"law_id":61660,"edition_id":1,"section_id":61660,"structure_id":15799,"section_number":"6.2-1376","catch_line":"Authorized investments","history":"Code 1950, \u00a7 6-225; 1956, c. 90; 1958, c. 21; 1966, c. 584, \u00a7 6.1-216; 1968, c. 560; 1972, c. 192; 1974, c. 117; 1975, c. 35; 1979, c. 190; 1980, cc. 207, 210; 1983, c. 466; 1984, c. 351; 1990, c. 373, \u00a7 6.1-225.57; 1991, c. 367; 2010, c. 794; 2013, cc. 16, 92.","full_text":"The funds of a credit union that are not used in loans to members may be invested only:\n\n1\n\nIn loans to other insured credit unions to the extent permitted in the bylaws;2\n\nIn shares, share accounts, or deposits of other insured credit unions to the extent authorized in its bylaws, but not to exceed 25 percent of the investing credit union’s outstanding shares and reserve fund;3\n\nNotwithstanding any other provision of this section, in shares or deposits of any corporate credit union provided such investments are specifically authorized by the board of directors making the investment;4\n\nIn federally insured banks and savings institutions;5\n\nIn the capital stock of the National Credit Union Central Liquidity Facility or any central liquidity facility established under the laws of the Commonwealth;6\n\nIn obligations of the United States and securities fully guaranteed as to principal and interest thereby;7\n\nIn obligations of the Commonwealth and any political subdivision thereof, including, but not limited to, revenue bonds;8\n\nIn such stock, securities, obligations, or other investments as may be approved from time to time by the Commission;9\n\nIn real estate, office buildings, equipment, and furnishings of the credit union, provided that the aggregate investment in all such fixed assets shall not exceed five percent of the total of the members’ share accounts and retained earnings without the prior written authorization of the Commissioner;10\n\nIn shares, stock, deposits in, loans, or other obligations of any credit union service organization, corporation, or association, if (i) the membership or ownership, as the case may be, of such organization, corporation, or association is primarily confined or restricted to credit unions or organizations of credit unions and (ii) the purpose for which such organization, corporation, or association is organized is to strengthen or advance the development of credit unions or credit union organizations. Such investment by any credit union shall not exceed five percent of the credit union’s outstanding shares and reserves without the prior approval of the Commissioner;11\n\nIn deposits in, loans to, or shares of any Federal Reserve Bank; and12\n\nIn cooperative loans with other credit unions or credit union organizations. Such investment shall not exceed 10 percent of outstanding shares and reserves of the investing credit union.","order_by":null,"text":{"0":{"id":225133,"text":"The funds of a credit union that are not used in loans to members may be invested only:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":225134,"text":"In loans to other insured credit unions to the extent permitted in the bylaws;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":225135,"text":"In shares, share accounts, or deposits of other insured credit unions to the extent authorized in its bylaws, but not to exceed 25 percent of the investing credit union’s outstanding shares and reserve fund;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":225136,"text":"Notwithstanding any other provision of this section, in shares or deposits of any corporate credit union provided such investments are specifically authorized by the board of directors making the investment;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":225137,"text":"In federally insured banks and savings institutions;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":225138,"text":"In the capital stock of the National Credit Union Central Liquidity Facility or any central liquidity facility established under the laws of the Commonwealth;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":225139,"text":"In obligations of the United States and securities fully guaranteed as to principal and interest thereby;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":225140,"text":"In obligations of the Commonwealth and any political subdivision thereof, including, but not limited to, revenue bonds;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":225141,"text":"In such stock, securities, obligations, or other investments as may be approved from time to time by the Commission;","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":225142,"text":"In real estate, office buildings, equipment, and furnishings of the credit union, provided that the aggregate investment in all such fixed assets shall not exceed five percent of the total of the members’ share accounts and retained earnings without the prior written authorization of the Commissioner;","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8","next_prefix":"10"},"10":{"id":225143,"text":"In shares, stock, deposits in, loans, or other obligations of any credit union service organization, corporation, or association, if (i) the membership or ownership, as the case may be, of such organization, corporation, or association is primarily confined or restricted to credit unions or organizations of credit unions and (ii) the purpose for which such organization, corporation, or association is organized is to strengthen or advance the development of credit unions or credit union organizations. Such investment by any credit union shall not exceed five percent of the credit union’s outstanding shares and reserves without the prior approval of the Commissioner;","type":"section","prefixes":["10"],"prefix":"10","entire_prefix":"10","prefix_anchor":"10","level":1,"prior_prefix":"9","next_prefix":"11"},"11":{"id":225144,"text":"In deposits in, loans to, or shares of any Federal Reserve Bank; and","type":"section","prefixes":["11"],"prefix":"11","entire_prefix":"11","prefix_anchor":"11","level":1,"prior_prefix":"10","next_prefix":"12"},"12":{"id":225145,"text":"In cooperative loans with other credit unions or credit union organizations. Such investment shall not exceed 10 percent of outstanding shares and reserves of the investing credit union.","type":"section","prefixes":["12"],"prefix":"12","entire_prefix":"12","prefix_anchor":"12","level":1,"prior_prefix":"11"}},"ancestry":[{"id":15799,"edition_id":1,"name":"Loans and Investments","identifier":"9","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:59:42","date_modified":"2026-06-26 03:59:42","permalink":{"id":264871,"object_type":"structure","relational_id":15799,"identifier":"9","token":"6.2\/II\/13\/9","url":"\/6.2\/II\/13\/9\/","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":64987,"structure_id":15799,"section_number":"6.2-1370","catch_line":"Purpose and condition of loans","url":"\/6.2-1370\/","token":"6.2\/II\/13\/9\/6.2-1370","metadata":false},{"id":70966,"structure_id":15799,"section_number":"6.2-1371","catch_line":"Other charges","url":"\/6.2-1371\/","token":"6.2\/II\/13\/9\/6.2-1371","metadata":false},{"id":69162,"structure_id":15799,"section_number":"6.2-1372","catch_line":"Loan limits","url":"\/6.2-1372\/","token":"6.2\/II\/13\/9\/6.2-1372","metadata":false},{"id":73077,"structure_id":15799,"section_number":"6.2-1373","catch_line":"Loans to members of credit committee; nonmember loans","url":"\/6.2-1373\/","token":"6.2\/II\/13\/9\/6.2-1373","metadata":false},{"id":79285,"structure_id":15799,"section_number":"6.2-1374","catch_line":"Lines of credit","url":"\/6.2-1374\/","token":"6.2\/II\/13\/9\/6.2-1374","metadata":false},{"id":60888,"structure_id":15799,"section_number":"6.2-1375","catch_line":"Cooperative loans","url":"\/6.2-1375\/","token":"6.2\/II\/13\/9\/6.2-1375","metadata":false},{"id":61660,"structure_id":15799,"section_number":"6.2-1376","catch_line":"Authorized investments","url":"\/6.2-1376\/","token":"6.2\/II\/13\/9\/6.2-1376","metadata":false}],"previous_section":{"id":60888,"structure_id":15799,"section_number":"6.2-1375","catch_line":"Cooperative loans","url":"\/6.2-1375\/","token":"6.2\/II\/13\/9\/6.2-1375","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1376\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 15 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 1958, chapter 21; in 1966, chapter 584; in 1968, chapter 560; in 1972, chapter 192; in 1974, chapter 117; in 1975, chapter 35; in 1979, chapter 190; in 1980, chapters 207 and 210; in 1983, chapter 466; in 1984, chapter 351; in 1990, chapter 373; in 1991, chapter 367; in 2010, chapter 794<\/a>; in 2013, chapters 16<\/a> and 92<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264897,"object_type":"law","relational_id":61660,"identifier":"6.2-1376","token":"6.2\/II\/13\/9\/6.2-1376","url":"\/6.2-1376\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1376\/","token":"6.2\/II\/13\/9\/6.2-1376","dublin_core":{"Title":"Authorized investments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1376","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The funds of a credit union<\/span> that are not used in loans to members<\/span> may be invested only:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> In loans to other insured credit unions<\/span> to the extent permitted in the bylaws; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> In shares<\/span>, share accounts<\/span>, or deposits of other insured credit unions<\/span> to the extent authorized in its bylaws, but not to exceed 25 percent of the investing credit union<\/span>’s outstanding shares<\/span> and reserve fund; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Notwithstanding any other provision of this section, in shares<\/span> or deposits of any corporate credit union<\/span> provided such investments are specifically authorized by the board of directors making the investment; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> In federally insured banks and savings institutions; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> In the capital<\/span> stock of the National Credit Union Central Liquidity Facility or any central liquidity facility established under the laws<\/span> of the Commonwealth; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> In obligations of the United States and securities fully guaranteed as to principal and interest thereby; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> In obligations of the Commonwealth and any political subdivision thereof, including, but not limited to, revenue bonds<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> In such stock, securities, obligations, or other investments as may be approved from time to time by the Commission<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> In real estate, office buildings, equipment, and furnishings of the credit union, provided that the aggregate investment in all such fixed assets<\/span> shall not exceed five percent of the total of the members<\/span>’ share accounts<\/span> and retained earnings<\/span> without the prior written authorization of the Commissioner<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> In shares<\/span>, stock, deposits in, loans, or other obligations of any credit union service organization<\/span>, corporation, or association, if (i) the membership or ownership, as the case may be, of such organization, corporation, or association is primarily confined or restricted to credit unions<\/span> or organizations of credit unions<\/span> and (ii) the purpose for which such organization, corporation, or association is organized is to strengthen or advance the development of credit unions<\/span> or credit union organizations. Such investment by any credit union shall not exceed five percent of the credit union’s outstanding shares<\/span> and reserves<\/span> without the prior approval of the Commissioner<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> In deposits in, loans to, or shares<\/span> of any Federal Reserve Bank; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> In cooperative loans with other credit unions<\/span> or credit union organizations. Such investment shall not exceed 10 percent of outstanding shares<\/span> and reserves<\/span> of the investing credit union. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAUTHORIZED INVESTMENTS (\u00a7 6.2-1376)\n\nThe funds of a credit union that are not used in loans to members may be\ninvested only:\n\n1. In loans to other insured credit unions to the extent permitted in the\nbylaws;\n\n2. In shares, share accounts, or deposits of other insured credit unions to the\nextent authorized in its bylaws, but not to exceed 25 percent of the investing\ncredit union’s outstanding shares and reserve fund;\n\n3. Notwithstanding any other provision of this section, in shares or deposits of\nany corporate credit union provided such investments are specifically authorized\nby the board of directors making the investment;\n\n4. In federally insured banks and savings institutions;\n\n5. In the capital stock of the National Credit Union Central Liquidity Facility\nor any central liquidity facility established under the laws of the\nCommonwealth;\n\n6. In obligations of the United States and securities fully guaranteed as to\nprincipal and interest thereby;\n\n7. In obligations of the Commonwealth and any political subdivision thereof,\nincluding, but not limited to, revenue bonds;\n\n8. In such stock, securities, obligations, or other investments as may be\napproved from time to time by the Commission;\n\n9. In real estate, office buildings, equipment, and furnishings of the credit\nunion, provided that the aggregate investment in all such fixed assets shall not\nexceed five percent of the total of the members’ share accounts and\nretained earnings without the prior written authorization of the Commissioner;\n\n10. In shares, stock, deposits in, loans, or other obligations of any credit\nunion service organization, corporation, or association, if (i) the membership\nor ownership, as the case may be, of such organization, corporation, or\nassociation is primarily confined or restricted to credit unions or\norganizations of credit unions and (ii) the purpose for which such organization,\ncorporation, or association is organized is to strengthen or advance the\ndevelopment of credit unions or credit union organizations. Such investment by\nany credit union shall not exceed five percent of the credit union’s\noutstanding shares and reserves without the prior approval of the Commissioner;\n\n11. In deposits in, loans to, or shares of any Federal Reserve Bank; and\n\n12. In cooperative loans with other credit unions or credit union organizations.\nSuch investment shall not exceed 10 percent of outstanding shares and reserves\nof the investing credit union.\n\nHISTORY: Code 1950, \u00a7 6-225; 1956, c. 90; 1958, c. 21; 1966, c. 584, \u00a7\n6.1-216; 1968, c. 560; 1972, c. 192; 1974, c. 117; 1975, c. 35; 1979, c. 190;\n1980, cc. 207, 210; 1983, c. 466; 1984, c. 351; 1990, c. 373, \u00a7 6.1-225.57;\n1991, c. 367; 2010, c. 794; 2013, cc. 16, 92.","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}}