In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. 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 Union Location in Arkansas
When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services.
Select your city for
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. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. 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. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. 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.