National Consumer Cooperative Bank Act

(Reported to House from the Committee on Banking, Currency and Housing with amendment, H. Rept. 94-1454 (Pt. 1))

National Consumer Cooperative Bank Act - =Title I: National Consumer Cooperative Bank= - Sets forth the findings of Congress that there is a need for the establishment of a National Consumer Cooperative Bank and a Cooperative Bank and Assistance Administration which will make available necessary financial and technical assistance to cooperative self-help endeavors as a means of strengthening the Nation's economy.

Establishes the National Consumer Cooperative Bank. States that the Bank shall: (1) encourage the development of new and existing cooperatives eligible for its assistance by providing specialized credit and technical assistance; (2) maintain broad-based control of the Bank by its voting stockholders; (3) encourage broad-based ownership, control and active participation by members in eligible cooperatives; (4) assure that the net savings from its operations and the operations of borrowers from the Bank, are made available or accounted for to the stockholders or members of the cooperative organization; and (5) assist in improving the quality and availability of goods and services to consumers.

Authorizes the creation of no less than four nor more than twelve corporate regional banks.

States that the Bank shall have the power to make and service loans, commitments for credit, guarantees, furnish financially related services, technical assistance, and issue obligations. Enumerates additional powers necessary to carry out its powers and duties under this Act.

Authorizes appropriations of $250,000,000 per year for the United States to purchase class A preferred stock of the Bank.

Requires the Bank to hold an annual meeting of stockholders. Permits the Bank to obtain funds through the public or private sale of its bonds, debentures, notes, and other evidences of indebtedness.

Authorizes the Bank to make loans to eligible organizations which shall be repayable in not more than forty years. States that the objective of the Bank shall be to provide the type of credit needed by eligible borrowers, at the lowest reasonable cost on a sound business basis, taking into account the cost of money to the Bank.

Defines "eligible cooperatives" for purposes of assistance under this title as an organization chartered or operated on a cooperative, not for profit basis for producing or furnishing goods, services, facilities, or financing, primarily for the benefit of its members or voting stockholders who are ultimate consumers, if it meets specified criteria, or any other institution chartered or operated in such a way as to enhance competitive market forces or to reduce the price spread between producers and the ultimate consumers of products or services.

=Title II: Self-Help Development Fund= - Establishes in the Treasury a Consumer Cooperative Self-Help Development Fund. Authorizes appropriations of $250,000,000 to be deposited in the Fund. Permits the Cooperative Bank and Assistance Administration to make a capital investment advance out of the Fund to any eligible cooperative if the Administration determines that the applicant's initial or supplemental capital requirements exceed its ability to obtain a Title I loan from the Bank or other sources, and the membership of the applicant consists substantially of low-income persons.

=Title III: Cooperative Technical Assistance= - Directs the Cooperative Bank and Assistance Administration to make available information and services concerning the organization or reorganization of cooperatives to best achieve the objectives of this Act and to best provide the means through which various types of goods, services, and facilities can be made available to members and patrons.

States that such assistance may include investigations, surveys, and director and management training and assistance.

Authorizes appropriations to the Administration of sums necessary for the administration of this title.

=Title IV: The Cooperative Bank and Assistance Administration and General Provisions= - Establishes the Cooperative Bank and Assistance Administration. Directs the Administration to assure that the objectives of this Act are carried out.

States that until the stock of the Bank held by the United States has been fully retired the Bank shall be exempt from any form of taxation.

Requires the Administration and the Board to report annually to the appropriate committee of Congress on the activities of the Administration and on the Bank's capital, operations, financial condition, the self-help development fund, and to make recommendations for legistation to improve its services.

Authorizes appropriations of sums necessary to carry out the purposes of this Act, in addition to appropriations specifically authorized.