Membership share definition

Membership share means a share of a domestic credit union equal in amount to the par value of the credit union's shares that is credited to an account of a member by the credit union, is required as a condition of membership in the credit union, and is subject to any withdrawal restriction or other standards established by the domestic credit union for membership shares.

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Membership share means a share of the credit union, the subscription to which shall be a prerequisite for membership in the credit union.

Membership share means an initial share that a credit

Examples of Membership share in a sentence

• Compounding and crediting: : Dividends for Membership share savings, IRA savings, and Club accounts accrue daily, compound quarterly and are credited quarterly.

• Compounding and crediting: Dividends for Membership share savings, IRA savings, and Club accounts accrue daily, compound quarterly and are credited quarterly.

• Membership share terms may be controlled by a separate Perpetual Contributed Capital Agreement.

• In the event that UNCB is placed into receivership or conservatorship, the remaining members shall have an option to purchase UNCB's Membership share in the Company at a price acceptable to the conservator or receiver.

• The Member may enjoy the use, in common with other Members of the Coop, of all common property and facilities of the entire Cooperative community so long as the Member continues to own a Membership share in the Coop, occupies the Unit, and abides by the terms of this Agreement.

More Definitions of Membership share

Membership share means a share issued to a member of a co-operative as a requirement for membership of a co-operative;

Membership share means a balance held by a credit union and

Membership share means a share equal to the stated par value of the Connecticut credit union which may not be withdrawn or transferred except upon termination of membership and which confers membership and voting rights on the member;

Membership share means a share described in section 32 of the Act;

Membership share means a designated share account of a credit union consisting of the balance held by the credit union and established by a credit union member in accordance with the standards specified by the credit union.

Membership share means the Membership Shares referred to in clause 2.2(c);

Membership share means a share described in section 7-1;