Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Membership in the credit union forms responsible citizens and conscientious attitude to their obligations as a norm of behavior, identify the value of a decent man's reputation in the business turnover. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Unlike banks credit unions limit their activities to a closed circle of people.
Credit Union Location in Clarkesville, Georgia
Clarkesville, Georgia have 1 agent Credit Union location in your country. All country.
The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings.
| Agent | Contacts |
|---|---|
| Habersham Federal Credit Union, Clarkesville |
420 W Louise Street Clarkesville, GA 30523
Phone: (706) 754-3680 Routing number: 23054 |
Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Credit unions also differ from the traditional consumer cooperatives. To reduce the risk of default on loans members of the credit union shall the joint guarantee. 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. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. 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. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
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