National Credit Union Bank Act

[AI summary unavailable — showing source text] National Credit Union Bank Act - Declares the Congressional finding that there exists an urgent need for consumer credit at reasonable rates. Cites the contribution made by credit unions in alleviating this situation. States that the extent of such relief would be enlarged by establishing a National Credit Union Bank empowered to make temporary loans for liquidity purposes to its shareholders, discount notes of its shareholders, provide a national service of interlending for credit unions, sell debt securities in the open market, aid in the rehabilitation and stabilization of credit unions, aid in the orderly liquidation of credit unions when necessary, aid in the development of credit unions serving low-income persons, and to cooperate with and assist credit unions and related State regulatory bodies for the purpose of improving the general welfare of the people through credit unions. Creates a body corporate to be known as the "National Credit Union Bank" which shall exist perpetually until dissolved by Act of Congress and which shall not be an agency of the United States Government. Asserts that the principal office of the Bank shall be located in the District of Columbia but th…