Setting up a Credit Union - Member Corner - Credit Union League of Hong Kong

The membership of a credit union shall be limited to persons having a common bond of occupation, employment, association, or residence within a defined neighbourhood, community, or rural or urban area.

Any fifteen [15] or more persons -

1.	each of whom is not less than sixteen [16] years of age;

2.	at least three [3] of whom are not less than twenty-one [21] years of age;

3.	who satisfy the requirements of section 15;

4.	who wish to associate themselves together as a credit union for the objects set forth below,

may be registered as a credit union. The objects of a credit union shall be -

1.	to promote thrift among its members;

2.	to receive the savings of its members either as payment on shares or as deposits; and

3.	to make loans to its members, exclusively for provident or productive purposes.