Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. The right to use the services of the credit union have only its members. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).
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Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. The right to use the services of the credit union have only its members. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings.
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Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). Typically, donor contributions to the credit unions are targeted and used in the same statutory requirements and restrictions as the Mutual Financial Aid fund as a whole. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. 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, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution.