American Consumer Council

American Consumer Council
AbbreviationACC
Formation1987; 38 years ago (1987)
Type501(c)(3)[1]
33-0718596[1]
Legal statusnonprofit organization
Location
FundingMembership fees
Websiteamericanconsumercouncil.org

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][4]

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

  1. ^ a b "[1]" search for American Consumer Council EIN: 33-0718596. Internal Revenue Service. Retrieved October 16, 2024.
  2. ^ "American Consumer Council website - home page". American Consumer Council. Retrieved October 16, 2024.
  3. ^ 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)
  4. ^ Egan, John. "What Is the American Consumer Council?". Investopedia. Retrieved 16 October 2024.
  5. ^ 12 U.S.C. § 1759, United States House of Representatives, 2022
  6. ^ Am. Bankers Ass'n v. Nat'l Credit Union Admin., 38 F. Supp. 2d 114, 116–17 (D.D.C. 1999)
  7. ^ ACC Annual Report FY 2023-2024 (PDF), American Consumer Council, 2024
  8. ^ Cassity, Wendy (2000), The Case for a Credit Union Community Reinvestment Act, 100, Columbia Law Review, pp. 331–338
  9. ^ "Consumer News & Views" (PDF). American Consumer Council. September 2024. pp. 13–14.


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