Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. 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. Credit union as a consumer cooperative operates on the principles of equality of all its members.
Credit Union Location in Glasgow, Kentucky
Glasgow, Kentucky have 1 agent Credit Union location in your country. All country.
Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. Credit union as a consumer cooperative operates on the principles of equality of all its members.
| Agent | Contacts |
|---|---|
| Axton Federal Credit Union, Glasgow |
1320 West Main Street Glasgow, KY 42141
Phone: (270) 659-6249 Routing number: 21657 |
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee. On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate.
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