StacksVerified U.S. regulatory reference

26 CFR §1.501(c)(14)-1

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
Credit unions (other than Federal credit unions described in section 501(c)(1)) without capital stock, organized and operated for mutual purposes and without profit, are exempt from tax under section 501(a). Corporations or associations without capital stock organized before September 1, 1951 and operated for mutual purposes and without profit for the purpose of providing reserve funds for, and insurance of, shares or deposits in:
  1. (a)Domestic building and loan associations as defined in section 7701(a)(19),
  2. (b)Cooperative banks without capital stock organized and operated for mutual purposes and without profit, or
  3. (c)Mutual savings banks not having capital stock represented by shares