(1) A limited income person is defined as an individual whose annual income is less than that specified below based upon family size:

�

�Family Size	�Annual Income
�1	$ 11,880
�2	�� 16,020
�3	�� 20,160
�4	�� 24,300
�5	�� 28,440
�6	�� 32,580
�7	�� 36,730
�8	�� 40,890

�

For family/household units with more than eight members, add $4,160 for each additional member.

(2) For purposes of this rule, the term "income" must include before-tax income of the following types:

(a) earnings (wages, tips, and salary);

(b) unemployment compensation;

(c) workers' compensation;

(d) social security;

(e) supplemental security income;

(f) survivor benefits;

(g) pension or retirement income; and

(h) self-employment earnings computed in accordance with the credit union's written policies.

(3) Other forms of income that may, at the credit union's discretion and in accordance with the credit union's written policies, be included within the definition of income for purposes of this rule are:

(a) cash public assistance benefits;

(b) veterans' payments;

(c) interest income;

(d) dividend income;

(e) rents;

(f) royalties;

(g) income from estates or trusts;

(h) educational assistance such as work-study earnings and grants, but not student loans;

(i) spousal maintenance (formerly known as alimony);

(j) child support;

(k) assistance from outside the household; and

(l) other miscellaneous sources.

(4) The term "income" does not include:

(a) capital gains or losses; and

(b) noncash benefits such as food stamps and housing subsidies.

(5) Credit union membership for immediate family members of persons within the credit union's field of membership under 32-3-304(2), MCA, does not extend to immediate family members of limited income persons who become members under 32-3-307, MCA. Nothing in this rule prevents immediate family members of limited income persons from independently qualifying for membership in their own right under either 32-3-304 or 32-3-307, MCA.