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The American Consumer Council (ACC) is an American non-profit organization founded in 1987 that is a gateway to membership in various credit unions. In addition it provides consumer education, advocacy and financial literacy to its members.[2][3][2][4]
| Abbreviation | ACC |
|---|---|
| Formation | 1987 |
| Type | 501(c)(3)[1] |
| 33-0718596[1] | |
| Legal status | nonprofit organization |
| Location | |
| Funding | Membership fees |
| Website | americanconsumercouncil |
The United States Federal Credit Union Act requires a credit union to limit membership. Members must either share a single common bond of association or occupation, or various common-bond groups can coalesce to make a “multiple common-bond” credit union.[5][6] In this context, ACC serves as a "select employee group" or "SEG," which allows persons to join a credit union in a sponsorship relationship with ACC.[7][8]
Examples of partnering credit unions for which ACC is a gateway are True Sky Federal Credit Union of Oklahoma City and Quorum Federal Credit Union of Purchase, New York.[9]
References
edit- ^ a b "[1]" search for American Consumer Council EIN: 33-0718596. Internal Revenue Service. Retrieved October 16, 2024.
- ^ a b "American Consumer Council website - home page". American Consumer Council. Retrieved October 16, 2024.
- ^ Am. Consumer Credit Counseling, Inc. v. Am. Consumer Credit, LLC, No. 16-CV-12170-IT, 2017 WL 1534190, at *4 (D. Mass. Apr. 27, 2017)
- ^ Egan, John. "What Is the American Consumer Council?". Investopedia. Retrieved 16 October 2024.
- ^ 12 U.S.C. § 1759, United States House of Representatives, 2022
- ^ Am. Bankers Ass'n v. Nat'l Credit Union Admin., 38 F. Supp. 2d 114, 116–17 (D.D.C. 1999)
- ^ ACC Annual Report FY 2023-2024 (PDF), American Consumer Council, 2024
- ^ Cassity, Wendy (2000), The Case for a Credit Union Community Reinvestment Act, 100, Columbia Law Review, pp. 331–338
- ^ "Consumer News & Views" (PDF). American Consumer Council. September 2024. pp. 13–14.
