186.11 Investments.
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/wi/chapter-186/186-11-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
186.11 Investments.
(1)General. The board of directors may invest credit union funds in any of the following:
(a)United States government direct and agency obligations.
(b)Municipal bonds.
(c)A corporate central credit union organized under s. 186.32 or under any other state or federal law.
(d)Deposits and debt instruments of federally insured banks, credit unions, savings banks and savings and loan associations.
(e)With the approval of the office of credit unions, other investment instruments.
(2)Credit union property.
(a)Subject to pars.
(b)and
(c), a credit union may purchase, hold, and dispose of property as necessary for or incidental to its operations.
(b)Subject to guidance issued by the office of credit unions, a credit union may purchase, lease, hold, and convey the following types of real estate:
1. Real estate conveyed to the credit union in satisfaction of debts previously contracted in the course of the credit union’s business.
2. Real estate purchased at sale on judgments, decrees, or mortgage foreclosures under securities held by the credit union, but a credit union may not bid at a sale a larger amount than is necessary to satisfy its debts and costs.
3. Subject to the approval of the office of credit unions, real estate acquired or held by the credit union for any other purpose.
(c)Real estate acquired under par.
(b)may not be held for more than 5 years, unless an extension is granted by the office of credit unions.
(3)Cooperative housing. A credit union may invest an amount not to exceed 10 percent of its regular reserve in agreements with other corporations or its members to provide cooperative housing and related facilities for its members.
(4)Investments in credit union service organizations.
(a)Unless the office of credit unions approves a higher percentage, a credit union may invest not more than 1.5 percent of its total assets in the capital shares or obligations of credit union service organizations that, in the opinion of the office of credit unions, are sufficiently bonded and insured and that satisfy all of the following:
1. Are corporations, limited partnerships, limited liability companies, or other entities that are permitted under the laws of this state and that are approved by the office of credit unions.
2. Are organized primarily to provide goods and services to credit unions, credit union organizations and credit union members.