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Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. 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. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies. 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. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. Corporate alliances are intermediaries between credit unions and financial markets.


First Northern Credit Union, Credit Union Location Chicago, Illinois


Name Contacts Info
First Northern Credit Union
230 W. Monroe St Suite 2850 Chicago, IL 60606 Phone: (312) 332-6357
Routing number: 66359
Charter number: 271078719
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