12 C.F.R. § 721.2 What is an incidental powers activity?
Title 12 - Banks and Banking
An incidental powers activity is one that is necessary or requisite to enable you to carry on effectively the business for which you are incorporated. An activity meets the definition of an incidental power activity if the activity: (a) Is convenient or useful in carrying out the mission or business of credit unions consistent with the Federal Credit Union Act; (b) Is the functional equivalent or logical outgrowth of activities that are part of the mission or business of credit unions; and (c) Involves risks similar in nature to those already assumed as part of the business of credit unions.
Title 12: Banks and Banking
PART 721—INCIDENTAL POWERS
§ 721.2 What is an incidental powers activity?
