To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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. Unlike banks credit unions limit their activities to a closed circle of people.
Credit Union Location in Reynolds, Georgia
Reynolds, Georgia have 1 agent Credit Union location in your country. All country.
Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Unlike banks credit unions limit their activities to a closed circle of people.
| Agent | Contacts |
|---|---|
| Flint Federal Credit Union, Reynolds |
103 S Macon St Reynolds, GA 31076
Phone: (478) 847-5180 Routing number: 16085 Charter number: 261272376 |
Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. 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. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.
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