Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. 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. 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. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee. 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. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit.
Credit Union Location in North Haven, Connecticut
North Haven, Connecticut have 2 agent Credit Union location in your country. All country.
Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. 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.
| Agent | Contacts |
|---|---|
| Connecticut Federal Credit Union, North Haven |
97 Washington Avenue North Haven, CT 06473
Phone: (203) 239-0346 Routing number: 23411 Charter number: 211178572 |
| Connex Credit Union, North Haven |
412 Washington Ave North Haven, CT 06473
Phone: (800) 278-6466 Routing number: 68511 Charter number: 211178200 |
Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. 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. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. The right to use the services of the credit union have only its members. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.
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