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First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. 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. 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. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. In recent decades, many credit unions began to resort to such form of service as


Credit Union Location in Cottonwood, Idaho

Credit Union

Cottonwood, Idaho have 1 agent Credit Union location in your country. All country.

To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. 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.

Agent Contacts
Cottonwood Community Federal Credit Union, Cottonwood 1606 Lewiston St Cottonwood, ID 83522

Phone: (208) 962-3451
Routing number: 04960


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National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. 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 relationship between credit unions and shareholders arise from the membership and are not customer relationship. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. 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). Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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. 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.