National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. 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 difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. 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. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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.
Credit Union Location in Escondido, California
Escondido, California have 1 agent Credit Union location in your country. All country.
Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks.
| Agent | Contacts |
|---|---|
| Escondido Federal Credit Union, Escondido |
201 N Broadway Second Floor Escondido, CA 92029
Phone: (760) 839-6225 Routing number: 13402 |
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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. 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. Membership in the credit union forms responsible citizens and conscientious attitude to their obligations as a norm of behavior, identify the value of a decent man's reputation in the business turnover. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Unlike banks credit unions limit their activities to a closed circle of people.