Section 186.11 - Investments(1) GENERAL. The board of directors may invest credit union funds in any of the following: (a) United States government direct and agency obligations.(c) A corporate central credit union organized under s. 186.32 or under any other state or federal law.(d) Deposits and debt instruments of federally insured banks, credit unions, savings banks and savings and loan associations.(e) With the approval of the office of credit unions, other investment instruments.(2) CREDIT UNION PROPERTY.(a) Subject to pars. (b) and (c), a credit union may purchase, hold, and dispose of property as necessary for or incidental to its operations.(b) Subject to guidance issued by the office of credit unions, a credit union may purchase, lease, hold, and convey the following types of real estate:1. Real estate conveyed to the credit union in satisfaction of debts previously contracted in the course of the credit union's business.2. Real estate purchased at sale on judgments, decrees, or mortgage foreclosures under securities held by the credit union, but a credit union may not bid at a sale a larger amount than is necessary to satisfy its debts and costs.3. Subject to the approval of the office of credit unions, real estate acquired or held by the credit union for any other purpose.(c) Real estate acquired under par. (b) may not be held for more than 5 years, unless an extension is granted by the office of credit unions.(3) COOPERATIVE HOUSING. A credit union may invest an amount not to exceed 10 percent of its regular reserve in agreements with other corporations or its members to provide cooperative housing and related facilities for its members.(4) INVESTMENTS IN CREDIT UNION SERVICE ORGANIZATIONS.(a) Unless the office of credit unions approves a higher percentage, a credit union may invest not more than 1.5 percent of its total assets in the capital shares or obligations of credit union service organizations that, in the opinion of the office of credit unions, are sufficiently bonded and insured and that satisfy all of the following:1. Are corporations, limited partnerships, limited liability companies, or other entities that are permitted under the laws of this state and that are approved by the office of credit unions.2. Are organized primarily to provide goods and services to credit unions, credit union organizations and credit union members.(b) A credit union service organization under par. (a) may provide any of the following services related to the routine daily operations of credit unions: 1. Checking and currency services, check cashing services, money order services, savings bond services, traveler's check services, and services regarding the purchase and sale of U.S. mint commemorative coins.2. Clerical, professional, and management services, including, but not limited to, accounting, courier, credit analysis, facsimile transmission and copying, internal credit union audit, locator, management and personnel training and support, marketing, research, and supervisory committee audit services.3. Consumer mortgage loan origination services.4. Electronic transaction services, including, but not limited to, remote terminal, credit and debit card, data processing, electronic fund transfer, electronic income tax filing, payment item processing, wire transfer, and Internet financial services.5. Tax preparation services, services regarding the development and administration of individual retirement accounts, Keogh plans, deferred compensation plans, and other personnel benefit plans, and financial counseling services, including, but not limited to, estate planning.6. Fixed asset services, including, but not limited to, the management, development, sale, or lease of fixed assets and the sale, lease, or servicing of computer hardware or software.7. Insurance brokerage or agency services, including, but not limited to, providing vehicle warranty programs, providing group insurance purchasing programs, and acting as an agent for the sale of insurance.8. Services with regard to the leasing of real property owned by the credit union service organization or personal property.9. Loan support services, including, but not limited to, debt collection and loan processing, servicing, and sales services and services regarding the sale of repossessed collateral.10. Record retention, security, and disaster recovery services, including, but not limited to, alarm monitoring, data storage and retrieval, and record storage services and providing forms and supplies.11. Securities brokerage services.12. Shared credit union branch operations.13. Student loan origination services.14. Travel agency services.15. Trust and other fiduciary services, including, but not limited to, acting as an administrator for prepaid legal services plans or acting as a trustee, guardian, conservator, estate administrator, or in any other fiduciary capacity.16. Real estate brokerage services.(bd) The office of credit unions may expand the list of services under par. (b) that are related to the routine daily operations of credit unions. Any service approved under this paragraph shall be authorized for all credit union service organizations under par. (a). A credit union may file a written request with the office of credit unions to exercise its authority under this paragraph and may include, along with the request, a description of any proposed service and an explanation of how that service is related to the routine daily operations of credit unions. Within 60 days after receiving a request under this paragraph, the office of credit unions shall approve or disapprove the request.(bh) A credit union service organization under par. (a) may provide any service described under par. (b) or approved under par. (bd) through an investment by the credit union service organization in a 3rd-party service provider. The amount that a credit union service organization may invest in a 3rd-party service provider under this paragraph may not exceed the amount necessary to obtain the applicable services, or a greater amount if necessary for the credit union service organization to obtain the services at a reduced cost.(c) A credit union service organization may be subject to audit by the office of credit unions.Amended by Acts 2023 ch, 128,s 9, eff. 3/23/2024.Amended by Acts 2023 ch, 128,s 8, eff. 3/23/2024.Amended by Acts 2015 ch, 304,s 5, eff. 4/1/2016.Amended by Acts 2015 ch, 304,s 4, eff. 4/1/2016.1971 c. 193; 1979 c. 77; 1983 a. 369; 1991 a. 221; 1993 a. 112; 1995 a. 27; 1995 a. 151 ss. 115 to 121, 307; 1997 a. 35; 2003 a. 63; 2005 a. 253.