COMMON-BOND DOCTRINE

common-bond doctrine.The rule that prospective members of a credit union must share some connection (such as common employment) other than a desire to create a credit union. [Cases: Building and Loan Associations  6.C.J.S. Building and Loan Associations, Savings and Loan Associations, and Credit Unions §§ 31–32, 45.] [Blacks Law 8th]