Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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). Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. Corporate alliances are intermediaries between credit unions and financial markets.
Torrington, Connecticut have 3 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders.
Agent | Contacts |
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C.H.H. Credit Union, Torrington |
540 Litchfield Street Torrington, CT 06790
Phone: (860) 482-2482 Routing number: 65819 Charter number: 211179089 |
Northwest Hills Credit Union Inc., Torrington |
339 North Elm Street Torrington, CT 06790
Phone: (860) 496-7326 Routing number: 65803 Charter number: 211179131 |
Torrington Municipal And Teachers Federal Credit Union, Torrington |
777 East Main St Torrington, CT 06790
Phone: (860) 489-2212 Routing number: 14003 Charter number: 211179144 |
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. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. Corporate alliances are intermediaries between credit unions and financial markets.