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Interest Bearing Checking Acct. for Cooperative?

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Question: 
Can a Cooperative have an interest bearing checking account?
Answer: 

Regulation Q has been repealed. As long as the interest bearing checking account that you are referring to is a demand deposit account - anyone can have one. If it is a NOW account, then the ownership limitations still apply. Since a cooperative can mean different things to different people, you would have to refer to:

https://www.bankersonline.com/regulations/12-204-130

First published on 04/15/2018

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