Membership in the credit union is voluntary and is open to all citizens bound by with joint work or residence, who wished to create a credit union to use its services and are willing to take on relevant commitments and responsibilities. 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. 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. Corporate alliances are intermediaries between credit unions and financial markets.
Credit Union Location in Cornelia, Georgia
Cornelia, Georgia have 2 agent Credit Union location in your country. All country.
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. Corporate alliances are intermediaries between credit unions and financial markets.
| Agent | Contacts |
|---|---|
| Ethicon Credit Union, Cornelia |
655 Ethicon Circle Cornelia, GA 30531
Phone: (706) 776-5458 Routing number: 67391 Charter number: 261191334 |
| Fieldale Credit Union, Cornelia |
3719 Bc Grant Rd Cornelia, GA 30531
Phone: 706-778-5100 ext. 8522 Routing number: 67385 Charter number: 261174555 |
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. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. 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. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate.
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