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The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. 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. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union).


Credit Union Location in Connecticut

Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services.


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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. Corporate alliances are intermediaries between credit unions and financial markets. Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central 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. 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.