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Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
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Permissibility of Investment

91-0728 / August 1991

Subject

Investments

Historic Status

Non-historic

Leonard Greene Treasurer
GTE Employees Federal Credit Union
P.O. Box 3556
Peabody, MA 01961

Re:Permissibility of Investment (Your July 12, 1991, Letter)

Dear Mr. Greene:

You requested a legal opinion on the permissibility of federal credit union investment in the Keystone America Capital Preservation and Income Fund. While this Office issued such opinions in the past, we no longer do so for the reasons ästated in the enclosed "Letter to Credit Unions No. 92 (August 13, 1987). As noted in "Letter No. 92 , if there are questions about the legality of a particular investment, you should obtain an opinion of private legal counsel.

Sincerely,

James J. Engel
Deputy General Counsel

Enclosure
GC/LH:sg
SSIC 4660
91-0728

Last modified on

11/14/24

Permissibility of Investment

Footnotes