CUs Can't Say Bank in North Dakota

I enjoyed publisher Mike Welch's recent column regarding the use of the word bank by credit unions. Just a tidbit of information on the subject. The state of North Dakota has a statute on the books from the late `20s which will not allow any other institutions to use the...

By Staff Writer | May 03, 2005 at 08:00 PM

I enjoyed publisher Mike Welch's recent column regarding the use of the word bank by credit unions. Just a tidbit of information on the subject. The state of North Dakota has a statute on the books from the late `20s which will not allow any other institutions to use the word bank, banker, or banking. It is quite a challenge to find ways to describe our products and services. Stuart Higginbotham CEO First Community Credit Union Jamestown, N.D.

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