Money transfer agent locations

The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of 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. Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings.


Credit Union Location in Kentucky

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. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members.


Select your city for


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. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars 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. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. 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. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.