Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions. 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 - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Credit union services are available only to its shareholders.
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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 - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions.
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Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. 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. 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. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.