Compliance Question of the Week

Can a credit union set up annuity accounts?

Credit unions are not in the business of insurance, so a credit union cannot offer an annuity on its own. However, the credit union may work with an annuity provider (some type of insurance firm) as a way to provide members with information about investment services.

 

Questions? Contact the Compliance Hotline: 1.800.546.4465, compliance@nwcua.org.

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