An Act relative to Massachusetts Credit Union Share Insurance Corporation

This bill amends the laws governing the Massachusetts Credit Union Share Insurance Corporation to strengthen its ability to assist struggling member credit unions. It requires the corporation's board of directors to meet at least quarterly and grants the corporation expanded powers to provide financial aid, such as loans, asset purchases, and deposits, to credit unions facing financial difficulties. The legislation also allows the corporation to borrow money from its members and other sources to fund these assistance programs. Additionally, the bill clarifies the corporation's status as an organization member, enabling credit unions to lend to it, and updates investment guidelines for the corporation.