Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. To reduce the risk of default on loans members of the credit union shall the joint guarantee. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union. 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. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies. 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.
Credit Union Location in Crowley, Louisiana
Crowley, Louisiana have 1 agent Credit Union location in your country. All country.
Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.
| Agent | Contacts |
|---|---|
| P. A. Federal Credit Union, Crowley |
503 North Ave D Crowley, LA 70526
Phone: (337) 788-0075 Routing number: 19909 Charter number: 265273876 |
Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. 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.
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