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Get Application For Approval To Form A Credit Union - California ...
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How to fill out the Application For Approval To Form A Credit Union - California online
This guide provides a clear and structured approach for users looking to fill out the Application For Approval To Form A Credit Union in California. By following these detailed instructions, users with varying levels of experience can efficiently complete the form online.
Follow the steps to complete your application successfully.
- Click the ‘Get Form’ button to obtain the form and open it.
- Begin by filling in the date on the application form. Ensure you provide the exact date you are submitting the application.
- In the section labeled 'TO THE COMMISSIONER OF FINANCIAL INSTITUTIONS', state your intention to apply for the organization of a credit union, including the proposed name and location within California.
- Clearly indicate the name, address, and contact number of the individual responsible for inquiries regarding the application.
- In the 'Corporate Form' section, prepare the necessary exhibits as outlined. This includes obtaining a certificate of name reservation from the California Secretary of State.
- Provide drafts of the proposed Articles of Incorporation and the proposed bylaws, making sure they meet legal requirements.
- List all proposed officers and committee members along with their titles and responsibilities, ensuring to include a Credit Union Official Questionnaire for each individual listed.
- Complete and attach the 'Field of Membership Questionnaire', detailing the proposed membership demographics and common bond description.
- Draft a detailed plan of business, including financial projections and operation plans for the first three years.
- Gather and include an economic report of the area served, if applicable. Outline the need for the proposed credit union in the community.
- Finalize the application by reviewing all entries for accuracy and completeness, then prepare to submit for review.
- Save your changes, download and print the completed application form, and ensure it is sent to the relevant department for approval.
Begin filling out your Application For Approval To Form A Credit Union online today!
Credit unions are not-for-profit organizations. While a credit union may earn profits, those profits are funneled back into business operations, paid to members as dividends or used to offer additional benefits for members. Credit Union profits don't go to Wall Street investors.
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