The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Unlike banks credit unions limit their activities to a closed circle of people.
Credit Union Location in Sullivan, Indiana
Sullivan, Indiana have 1 agent Credit Union location in your country. All country.
Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations.
| Agent | Contacts |
|---|---|
| Sullivan County Credit Union, Sullivan |
101 N Main Street Sullivan, IN 47882
Phone: (812) 268-1196 Routing number: 82789 |
Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. 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. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU.