# 17 Pa.C.S. § 510: Loan interest

> Pennsylvania · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S510

## Section

- **Citation:** 17 Pa.C.S. § 510
- **Heading:** Loan interest
- **Jurisdiction:** Pennsylvania
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** PA Code / Title 17 / Chapter 5 / Section 510

## Text

(a) General rule.--Interest rates on loans made by a credit union to its members shall not exceed the interest rates and finance charges permissible for a Federal credit union as authorized by the Federal Credit Union Act (48 Stat. 1216, 12

U.S.C. § 1751 et seq.) and the rules and regulations of the National Credit Union Administration.

(b) Procedure for increase in rates.--(Deleted by amendment).

(c) Penalty for overcharge.--The taking, receiving, reserving or charging interest greater than allowed by this section shall be deemed a forfeiture of the entire interest on the loan, except when such overcharge is the result of a clerical error in computation. In case an interest greater than that which is allowed by this section has been paid, the borrower may, within six months after payment, recover from the credit union the entire amount of interest paid, except when such overcharge is the result of a clerical error in computation in which case only the excess interest paid may be recovered.

(d) Additional powers of certain insured credit unions.--A credit union insured by a share insurance fund other than the National Credit Union Share Insurance Fund may make any loan authorized by this title, at such interest, finance charge, rate and terms as a credit union insured by the National Credit Union Share Insurance Fund, except that the authority permitted under this subsection shall not apply to the extension of credit for the purchase of goods and services through the issuance and use of credit cards. (June 18, 2014, P.L.754, No.62, eff. 60 days) 2014 Amendment. Act 62 amended subsec. (a) and deleted subsec. (b).

## Nearby sections

- [17 Pa.C.S. § 501 Powers.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S501.md)
- [17 Pa.C.S. § 502 Powers of central or corporate credit unions.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S502.md)
- [17 Pa.C.S. § 503 Regulation by department.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S503.md)
- [17 Pa.C.S. § 504 Fiscal year.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S504.md)
- [17 Pa.C.S. § 505 Capital and shares.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S505.md)
- [17 Pa.C.S. § 506 Joint accounts.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S506.md)
- [17 Pa.C.S. § 507 Minority and trust accounts.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S507.md)
- [17 Pa.C.S. § 508 Estate accounts.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S508.md)
- [17 Pa.C.S. § 509 Fees and charges.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S509.md)
- [17 Pa.C.S. § 510 Loan interest.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S510.md)
- [17 Pa.C.S. § 511 Power to borrow.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S511.md)
- [17 Pa.C.S. § 512 Loans.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S512.md)
- [17 Pa.C.S. § 513 Reserves.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S513.md)
- [17 Pa.C.S. § 514 Dividends.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S514.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S510. Check the current official text before relying on it. Not legal advice.