Credit Union Location in Rangely, Colorado

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. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. 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 unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. 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. The right to use the services of the credit union have only its members. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. 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.

Credit Union Location in Rangely, Colorado

Rangely, Colorado have 1 agent Credit Union location in your country. All country.

Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. 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
Rio Blanco Schools Federal Credit Union, Rangely	402 W Main St Ste 172 Rangely, CO 81648 Phone: (970) 675-2372 Routing number: 13161

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. To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. 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 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. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. 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. On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate.