In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. 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. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. 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 Location in Victorville, California
Victorville, California have 1 agent Credit Union location in your country. All country.
Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. 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.
| Agent | Contacts |
|---|---|
| Victor Valley Federal Credit Union, Victorville |
15445 8th St Victorville, CA 92395
Phone: (760) 245-3498 Routing number: 17164 |
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. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.