(a) The name of a District credit union shall include the phrase "credit union". No District credit union may adopt a name identical to the name of any other federal or foreign credit union doing business in the District, or a name similar to the name of any federal or foreign credit union doing business in the District that will be misleading or cause confusion.
(b) No person, other than a District credit union, a federal credit union, a foreign credit union, an association of credit unions, or an organization or corporation whose membership or ownership is limited to credit unions or credit union organizations may:
(1) Use a name or title containing the phrase "credit union" or any derivation thereof;
(2) Represent itself as a credit union; or
(3) Conduct business as a credit union.