Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption. 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. 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. 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. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. 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). Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). 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.
West Covina, California have 3 agent Credit Union location in your country. All country.
Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption. 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.
|First Financial Credit Union, West Covina||
1600 W. Cameron Ave West Covina, CA 91790
Phone: (626) 814-4623
Routing number: 68404
|United Catholics Federal Credit Union, West Covina||
2225 E Garvey Ave N West Covina, CA 91791
Phone: (626) 974-4447
Routing number: 12029
|West Covina Federal Credit Union, West Covina||
1520 W. Cameron Ave #109 West Covina, CA 91790
Phone: (626) 813-1410
Routing number: 10753
The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. 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. 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. Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). 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.