(A) A credit union may, subject to the approval of the superintendent, provide one or more service facilities for the transaction of any credit union business. A set of all accounting records of the service facilities shall be maintained at the home office of the credit union. A service facility may also include a shared service facility.
(B) The credit union shall file with the superintendent a request for approval to establish a new service facility or to relocate an existing facility in writing prior to establishing a new service facility or relocating an existing facility. The superintendent shall notify the credit union not more than thirty days after the filing of the request for approval to establish a new service facility or relocate an existing facility whether it is denied, approved, or modified. If the superintendent does not respond within thirty days after the filing of the request for approval to establish a new service facility or relocate an existing service facility it shall be deemed approved; unless, the superintendent notifies the credit union in writing within thirty days of the credit union's request being filed that additional documentation is required. If additional documentation is required, the credit union shall have thirty days to file the additional documentation with the superintendent. If the superintendent does not respond within fifteen days of receipt of the additional documentation, the request will be deemed approved. If the service facility includes the purchase of real estate, the notice and approval required for the service facility shall be subject to the provisions of rule 1301:9-2-25 of the Administrative Code.
(C) No less than thirty calendar days before a credit union closes a service facility, the credit union shall cause written notification of the closure to be received in the office of the superintendent.
Five Year Review (FYR) Dates: 9/10/2018 and 11/24/2023
Promulgated Under: 119.03
Statutory Authority: 1733.41
Rule Amplifies: 1733.04
Prior Effective Dates: 12/31/76, 9/1/79, 2/11/88, 11/1/88, 8/3/93, 7/1/06, 3/22/12