Money transfer agent locations

To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars 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. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Credit unions also differ from the traditional consumer cooperatives.


Credit Union Location in Kansas

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. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars


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Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. 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. The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. 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. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).