The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests. To reduce the risk of default on loans members of the credit union shall the joint guarantee. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies.
Credit Union Location in Santa Cruz, California
Santa Cruz, California have 2 agent Credit Union location in your country. All country.
To reduce the risk of default on loans members of the credit union shall the joint guarantee. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress.
| Agent | Contacts |
|---|---|
| Santa Cruz Community Credit Union, Santa Cruz |
324 Front Street Santa Cruz, CA 95060
Phone: (831) 425-7708 Routing number: 64029 |
| Santa Cruz County Employees Credit Union, Santa Cruz |
8030 Soquel Ave Ste 201 Santa Cruz, CA 95062
Phone: (831) 479-7600 Routing number: 64439 |
Membership in the credit union is voluntary and is open to all citizens bound by with joint work or residence, who wished to create a credit union to use its services and are willing to take on relevant commitments and responsibilities. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. The right to use the services of the credit union have only its members.
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