First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.
Credit Union Location in Meridian, Idaho
Meridian, Idaho have 1 agent Credit Union location in your country. All country.
When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. In the credit union compensation for use of the loan (interest) is a source of compensation for savings.
| Agent | Contacts |
|---|---|
| Capital Educators Federal Credit Union, Meridian |
275 S. Stratford Drive Meridian, ID 83642
Phone: (208) 884-0150 Routing number: 01040 |
The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " In recent decades, many credit unions began to resort to such form of service as Credit unions also differ from the traditional consumer cooperatives. 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. 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. 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. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. 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.
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