186.11(1)(a)

(a) United States government direct and agency obligations.

186.11(2)

(2) Credit union property.

186.11(4)(b)11.

11. Securities brokerage services.

186.11(4)(b)8.

8. Services with regard to the leasing of real property owned by the credit union service organization or personal property.

186.11(1)(b)

(b) Municipal bonds.

186.11(1)(d)

(d) Deposits and debt instruments of federally insured banks, credit unions, savings banks and savings and loan associations.

186.11(4)

(4) Investments in credit union service organizations.

186.11(4)(a)2.

2. Are organized primarily to provide goods and services to credit unions, credit union organizations and credit union members.

186.11(4)(b)3.

3. Consumer mortgage loan origination services.

186.11(4)(b)12.

12. Shared credit union branch operations.

186.11(4)(b)13.

13. Student loan origination services.

186.11(4)(b)14.

14. Travel agency services.

186.11

186.11 Investments.

186.11(1)

(1) General. The board of directors may invest credit union funds in any of the following:

186.11(1)(e)

(e) With the approval of the office of credit unions, other investment instruments.

186.11(1)(c)

(c) A corporate central credit union organized under § 186.32 or under any other state or federal law.

186.11(2)(a)

(a) Subject to para. (b), a credit union may purchase, hold and dispose of property as necessary for or incidental to its operations.

186.11(2)(b)

(b) The board of directors may purchase, lease or construct a building for the operation of the credit union, if the aggregate depreciated value of the building, including any associated remodeling of the building or land improvements, land acquisition, office furnishings and equipment, does not exceed the greater of 5% of the credit union’s total assets, including the building to be acquired, or 100% of the credit union’s irrevocable reserve unless prior approval for greater amounts is given by the office of credit unions. Nothing in this subsection authorizes a credit union to lease a building owned by a director or by a corporation, limited liability company, partnership or association controlled by a director. The credit union may rent or lease a portion of its building or property.

186.11(3)

(3) Cooperative housing. A credit union may invest an amount not to exceed 10% of its regular reserve in agreements with other corporations or its members to provide cooperative housing and related facilities for its members.

186.11(4)(a)

(a) Unless the office of credit unions approves a higher percentage, a credit union may invest not more than 1.5% of its total assets in the capital shares or obligations of credit union service organizations that, in the opinion of the office of credit unions, are sufficiently bonded and insured and that satisfy all of the following:

186.11(4)(a)1.

1. Are corporations, limited partnerships, limited liability companies, or other entities that are permitted under the laws of this state and that are approved by the office of credit unions.

186.11(4)(b)

(b) A credit union service organization under para. (a) may provide any of the following services related to the routine daily operations of credit unions:

186.11(4)(b)1.

1. Checking and currency services, check cashing services, money order services, savings bond services, traveler’s check services, and services regarding the purchase and sale of U.S. mint commemorative coins.

186.11(4)(b)16.

16. Real estate brokerage services.

186.11(4)(b)2.

2. Clerical, professional, and management services, including, but not limited to, accounting, courier, credit analysis, facsimile transmission and copying, internal credit union audit, locator, management and personnel training and support, marketing, research, and supervisory committee audit services.

186.11(4)(b)4.

4. Electronic transaction services, including, but not limited to, remote terminal, credit and debit card, data processing, electronic fund transfer, electronic income tax filing, payment item processing, wire transfer, and Internet financial services.

186.11(4)(b)5.

5. Tax preparation services, services regarding the development and administration of individual retirement accounts, Keogh plans, deferred compensation plans, and other personnel benefit plans, and financial counseling services, including, but not limited to, estate planning.

186.11(4)(b)6.

6. Fixed asset services, including, but not limited to, the management, development, sale, or lease of fixed assets and the sale, lease, or servicing of computer hardware or software.

186.11(4)(b)7.

7. Insurance brokerage or agency services, including, but not limited to, providing vehicle warranty programs, providing group insurance purchasing programs, and acting as an agent for the sale of insurance.

186.11(4)(b)9.

9. Loan support services, including, but not limited to, debt collection and loan processing, servicing, and sales services and services regarding the sale of repossessed collateral.

186.11(4)(b)10.

10. Record retention, security, and disaster recovery services, including, but not limited to, alarm monitoring, data storage and retrieval, and record storage services and providing forms and supplies.

186.11(4)(b)15.

15. Trust and other fiduciary services, including, but not limited to, acting as an administrator for prepaid legal services plans or acting as a trustee, guardian, conservator, estate administrator, or in any other fiduciary capacity.

186.11(4)(bd)

(bd) The office of credit unions may expand the list of services under para. (b) that are related to the routine daily operations of credit unions. Any service approved under this paragraph shall be authorized for all credit union service organizations under para. (a). A credit union may file a written request with the office of credit unions to exercise its authority under this paragraph and may include, along with the request, a description of any proposed service and an explanation of how that service is related to the routine daily operations of credit unions. Within 60 days after receiving a request under this paragraph, the office of credit unions shall approve or disapprove the request.

186.11(4)(bh)

(bh) A credit union service organization under para. (a) may provide any service described under para. (b) or approved under para. (bd) through an investment by the credit union service organization in a 3rd-party service provider. The amount that a credit union service organization may invest in a 3rd-party service provider under this paragraph may not exceed the amount necessary to obtain the applicable services, or a greater amount if necessary for the credit union service organization to obtain the services at a reduced cost.

186.11(4)(c)

(c) A credit union service organization may be subject to audit by the office of credit unions.