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Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.


Credit Union Location in Wardner, Idaho

Credit Union

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

Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively.

Agent Contacts
Shoshone County School Employees Credit Union, Wardner 18 Electric Ave Kingston, ID 83839

Phone: (208) 660-4942
Routing number: 62766


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Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. 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. Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of 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. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. 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. Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings.