Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. To reduce the risk of default on loans members of the credit union shall the joint guarantee. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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.
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To reduce the risk of default on loans members of the credit union shall the joint guarantee. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries.