Any seven or more natural persons who desire to form a Federal credit union shall each subscribe either individually or collectively before some officer competent to administer oaths an organization certificate in duplicate which shall specifically state:

((1)) the name of the association;

((2)) the location of the proposed Federal credit union and the territory in which it will operate;

((3)) the names and addresses of the subscribers to the certificate and the number of shares subscribed by each;

((4)) the initial par value of the shares;

((5)) the proposed field of membership, specified in detail;

((6)) the term of the existence of the corporation, which may be perpetual; and

((7)) the fact that the certificate is made to enable such persons to avail themselves of the advantages of this chapter.