Incidental Powers, for federally-chartered credit unions.
What categories of activities are preapproved as incidental powers necessary or requisite to carry on a credit union’s business?
721.3(m) Trustee or custodial services. Trustee or custodial services are services in which you are authorized to act under any written trust instrument or custodial agreement created or organized in the United States and forming part of a tax-advantaged savings plan, as authorized under the Internal Revenue Code. These services may include acting as a trustee or custodian for member retirement, education and health savings accounts.