Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Unlike banks credit unions limit their activities to a closed circle of people.
Credit Union Location in Prescott, Arizona
Prescott, Arizona have 1 agent Credit Union location in your country. All country.
The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations.
| Agent | Contacts |
|---|---|
| Prescott Federal Credit Union, Prescott |
500 North Highway 89 Vamc Bldg T-5 Prescott, AZ 86313
Phone: (928) 445-7970 Routing number: 02460 |
Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. 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. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.
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