Wednesday, October 2, 2013

ACC Meets NCUA Requirements for Association SEGs

The American Consumer Council (ACC) has received an independent legal opinion stating that ACC meets the National Credit Union Administration's (NCUA) "totality of circumstances" test which is required in order to be approved as an associational SEG (Select Employer Group).

The independent legal opinion was requested by a large federally-chartered credit union and rendered by the San Diego law firm of Selzter Caplan McMahon Vitek on October 1st.

In essence, the Legal Opinion states that ACC meets the seven criteria set forth in the Federal Credit Union Act, Section 109(b) that pertains to associations and the requirements necessary to affiliate with a federally-chartered credit union. 

Copies of the Legal Opinion may be obtained by contacting ACC's media office at: 

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