In recent decades, many credit unions began to resort to such form of service as 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. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations.
Credit Union Location in Santa Clara, California
Santa Clara, California have 2 agent Credit Union location in your country. All country.
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. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership.
| Agent | Contacts |
|---|---|
| Keypoint Credit Union, Santa Clara |
2805 Bowers Avenue Santa Clara, CA 95051
Phone: (408) 731-4100 Routing number: 65299 |
| Mission City Federal Credit Union, Santa Clara |
1391 Franklin Street Santa Clara, CA 95050
Phone: (408) 244-5818 Routing number: 13131 |
In the U.S., credit unions have a clear organizational structure. All credit unions belong to one or the other parent credit union (there are 35 of them in the U.S.). 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. 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. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. Unlike banks credit unions limit their activities to a closed circle of people. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
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