Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars 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. Unlike banks credit unions limit their activities to a closed circle of people. Like any financial institution, credit unions have the financial resources. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.
Unlike banks credit unions limit their activities to a closed circle of people. Like any financial institution, credit unions have the financial resources. 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.