The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations.
Credit Union Location in Dothan, Alabama
Dothan, Alabama have 2 agent Credit Union location in your country. All country.
The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations.
| Agent | Contacts |
|---|---|
| Five Star Credit Union, Dothan |
411 North Foster St Dothan, AL 36303
Phone: (334) 793-7714 Routing number: 68302 Charter number: 261272046 |
| Wiregrass Federal Credit Union, Dothan |
326 Honeysuckle Rd Dothan, AL 36305
Phone: (334) 793-3667 Routing number: 13228 Charter number: 262183626 |
Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law. In recent decades, many credit unions began to resort to such form of service as Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings.
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