Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit.
Credit Union Location in St Francis, Kansas
St Francis, Kansas have 1 agent Credit Union location in your country. All country.
First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. In the credit union compensation for use of the loan (interest) is a source of compensation for savings.
| Agent | Contacts |
|---|---|
| Norwesco Credit Union, St Francis |
123 North River Saint Francis, KS 67756
Phone: (785) 332-2113 Routing number: 67988 |
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. Credit union services are available only to its shareholders.
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