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Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. 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. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. To reduce the risk of default on loans members of the credit union shall the joint guarantee. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. 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). Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. 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.


Credit Union Location in Yuba City, California

Credit Union

Yuba City, California have 1 agent Credit Union location in your country. All country.

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. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members.

Agent Contacts
Sierra Central Credit Union, Yuba City 820 Plaza Way Yuba City, CA 95991

Phone: (530) 671-3001
Routing number: 68053


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Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. 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. 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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.