Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Credit unions also differ from the traditional consumer cooperatives. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. 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.
Credit Union Location in Phenix City, Alabama
Phenix City, Alabama have 2 agent Credit Union location in your country. All country.
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.
| Agent | Contacts |
|---|---|
| Mead Coated Board Federal Credit Union, Phenix City |
145 Highway 165 Phenix City, AL 36869
Phone: (334) 855-5232 Routing number: 18192 Charter number: 262276795 |
| Phenix Pride Federal Credit Union, Phenix City |
1810 Opelika Road Phenix City, AL 36867
Phone: (334) 291-3000 Routing number: 13852 Charter number: 262276805 |
To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. 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. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. The right to use the services of the credit union have only its members. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate.
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