[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR740.5]



[Page 596-597]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 740_ACCURACY OF ADVERTISING AND NOTICE OF INSURED STATUS--Table 

of Contents

 

Sec. 740.5  Requirements for the official advertising statement.



    (a) Each insured credit union must include the official advertising 

statement, prescribed in paragraph (b) of this section, in all of its 

advertisements, including on its main Internet page, except as provided 

in paragraph (c) of this section.

    (1) An insured credit union must include the official advertising 

statement in its advertisements thirty (30) days after its first day of 

operations as an insured credit union unless the Regional Director 

grants it an extension.

    (2) If advertising copy without the official advertising statement 

is on hand on the date the requirements of this section become 

operative, the insured credit union may use an overstamp or other means 

to include the official advertising statement until the supplies are 

exhausted.

    (b) The official advertising statement is in substance as follows: 

This credit union is federally insured by the National Credit Union 

Administration. The short title ``Federally insured by NCUA'' and a 

reproduction of the official sign may be used by insured credit unions 

at their option as the official advertising statement. The official 

advertising statement must be in a size and print that is clearly 

legible.

    (c) The following advertisements need not include the official 

advertising statement:

    (1) Statements of condition and reports of condition of an insured 

credit union which are required to be published by state or federal law 

or regulation;

    (2) Credit union supplies such as stationery (except when used for 

circular letters), envelopes, deposit slips, checks, drafts, signature 

cards, account passbooks, and noninsurable certificates;

    (3) Signs or plates in the credit union office or attached to the 

building or buildings in which the offices are located;

    (4) Listings in directories;

    (5) Advertisements not setting forth the name of the insured credit 

union;

    (6) Display advertisements in credit union directories, provided the 

name of the credit union is listed on any page in the directory with a 

symbol or other descriptive matter indicating it is insured;

    (7) Joint or group advertisements of credit union services where the 

names of insured credit unions and noninsured credit unions are listed 

and form a part of such advertisement;

    (8) Advertisements by radio that do not exceed thirty (30) seconds 

in time;

    (9) Advertisements by television, other than display advertisements, 

that do not exceed thirty (30) seconds in time;

    (10) Advertisements that because of their type or character would be 

impractical to include the official advertising statement, including but 

not limited to, promotional items such as calendars, matchbooks, pens, 

pencils, and key chains;

    (11) Advertisements that contain a statement to the effect that the 

credit union is insured by the National Credit Union Administration, or 

that its accounts and shares or members are insured by the 

Administration to the maximum of $100,000 for each member or 

shareholder;

    (12) Advertisements that do not relate to member accounts, including 

but not limited to advertisements relating



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to loans by the credit union, safekeeping box business or services, 

traveler's checks on which the credit union is not primarily liable, and 

credit life or disability insurance.

    (d) The non-English equivalent of the official advertising statement 

may be used in any advertisement provided that the Regional Director 

gives prior approval to the translation.