Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Unlike banks credit unions limit their activities to a closed circle of people. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.
Credit Union Location in Effingham, Illinois
Effingham, Illinois have 1 agent Credit Union location in your country. All country.
A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union. Unlike banks credit unions limit their activities to a closed circle of people.
| Agent | Contacts |
|---|---|
| Effingham Highway Credit Union, Effingham |
400 West Wabash Effingham, IL 62401
Phone: (217) 342-8209 Routing number: 81553 |
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. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. 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. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. Corporate alliances are intermediaries between credit unions and financial markets.
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