PURPOSE: This rule lists those United States government securities and obligations that are acceptable investments for credit unions (see section 370.075(1), RSMo for statutory requirements).

1. (1) The following list of securities and obligations of the federal government of the United States of America is approved for investment by Missouri credit unions: United States Savings and Treasury Bonds acquired by a direct purchase; Inter-Governmental Credit Union (ICU) Services Corporation Federal Securities Investment program, Federal Intermediate Credit Bank Debentures, Federal Home Loan Bank Notes, Federal Home Loan Bank Board Debentures, Federal Land Bank Bonds, Central Bank and Bank for Cooperative Debentures, Federal National Mortgage Association, and Government National Mortgage Association.

2. (2) The listed investments are considered safe for all credit unions without regard to their size or management ability.

   1. (A) Further, credit unions are cautioned to take adequate time and thought before investing in long-term, nonredemption-type securities.
   2. (B) Subsidiary ledgers shall be maintained to detail multiple investment transactions.

AUTHORITY: section 370.100, RSMo 1986.* This rule originally filed as 4 CSR 100-2.130. Original rule filed Sept. 14, 1972, effective Sept. 24, 1972. Amended: Filed Dec. 15, 1975, effective Dec. 25, 1975. Amended: Filed Aug. 13, 1980, effective Jan. 30, 1981. Amended: Filed May 4, 1987, effective July 23, 1987. Moved to 20 CSR 1100-2.130, effective Aug. 28, 2006.

*Original authority: 370.100, RSMo 1939, amended 1945, 1945, 1949, 1959, 1967, 1972. Op. Atty. Gen. No. 27, Mackey, 1-24-63. Missouri credit unions are authorized to invest their funds in bonds of school districts.