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. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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. 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. 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. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others.
Credit Union Location in Salida, Colorado
Salida, Colorado have 1 agent Credit Union location in your country. All country.
Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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.
| Agent | Contacts |
|---|---|
| Mountain River Credit Union, Salida |
205 E 3rd Street Salida, CO 81201
Phone: (719) 539-2968 Routing number: 63704 |
In the U.S., credit unions have a clear organizational structure. All credit unions belong to one or the other parent credit union (there are 35 of them in the U.S.). Like any financial institution, credit unions have the financial resources. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. 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). 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. 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. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution.
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