Money transfer agent locations

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. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. 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. Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. 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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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. 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.


Credit Union Location in Connecticut

The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. 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. 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


Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. 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 also differ from the traditional consumer cooperatives. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others.