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Are the funds in the Member Patronage Retained Equity Account mine or the credit unions?

April 26, 2017account credit equity funds patronage unions

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Are the funds in the Member Patronage Retained Equity Account mine or the credit unions?

1 Answer

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• Funds held on deposit in the Member Patronage Retained Equity Account are the property of the member, but are subject to the withdrawal conditions as set the Credit Union; in order to protect the reserves of the credit union from being depleted uncontrollably.