Money transfer agent locations

Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. Unlike banks credit unions limit their activities to a closed circle of people. 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. To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders.


Credit Union Location in Colorado

Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. Unlike banks credit unions limit their activities to a closed circle of people. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.


Select your city for


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. Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. 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. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. 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. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Credit union as a consumer cooperative operates on the principles of equality of all its members. Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings.