Q: Does AZDFI manage all credit unions business that is doing their state of Arizona?
A: No, AZDFI just regulates Arizona state-chartered credit unions.
Q: What could be the distinction between a situation credit union and a credit union that is federal?
A: The main distinction is whether or not the license to complete company as a credit union ended up being given by the local government or even the government that is federal. Every time a brand new credit union is founded, the organizers use for either a situation or nationwide (federal) credit union charter. Both forms of credit unions provide NCUA insured deposits and both are controlled in much the manner that is same. The difference that is important credit union users along with other customers is when they need to go after regulatory help. Because Arizona state-chartered credit unions would be the only credit unions monitored by AZDFI, issues and complaints received about federal credit unions or out-of-state chartered credit unions needs to be forwarded towards the regulator that is appropriate. A listing of all credit unions chartered as Arizona state chartered credit unions can be bought at lookup a Licensee on AZDFI’s internet site. A listing of state and agencies that are federal govern credit unions positioned in Arizona yet not chartered being an Arizona state chartered credit union is roofed when you look at the Other Regulator Referral List.
Q: Can a credit union chartered an additional continuing state conduct business into their state of Arizona? If that’s the case, who’s their regulator?