Money transfer agent locations

A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate. Credit union as a consumer cooperative operates on the principles of equality of all its members. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies.


Credit Union Location in Alabama

U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate. Credit union as a consumer cooperative operates on the principles of equality of all its members. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars.


Select your city for


Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers).