The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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). Credit union as a consumer cooperative operates on the principles of equality of all its members.
Credit Union Location in South Pasadena, California
South Pasadena, California have 1 agent Credit Union location in your country. All country.
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. 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).
| Agent | Contacts |
|---|---|
| Priority One Credit Union, South Pasadena |
1631 Huntington Drive South Pasadena, CA 91030
Phone: (626) 441-1999 Routing number: 60024 |
Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. 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. 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. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars 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. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. Corporate alliances are intermediaries between credit unions and financial markets.
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