Money transfer agent locations

Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. 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. Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. 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. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Credit unions also differ from the traditional consumer cooperatives. 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 unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies.


Credit Union Location in Florida

Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. 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.


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The right to use the services of the credit union have only its members. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions. 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. 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.). 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. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type.