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.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)
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.Am. Bankers Ass'n v. Nat'l Credit Union Admin., 38 F. Supp. 2d 114, 116–17 (D.D.C. 1999) 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.
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.
References