Credit Union Location in Franklin, Louisiana

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. Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. 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. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. 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. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.

Credit Union Location in Franklin, Louisiana

Franklin, Louisiana have 2 agent Credit Union location in your country. All country.

Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks.

Agent	Contacts
Cabot Employees Credit Union, Franklin	317 Highway Ave Franklin, LA 70538-3613 Phone: (337) 836-2219 Routing number: 62441 Charter number: 265273999
St. Mary Parish School Employees Federal Credit Union, Franklin	1401 Cynthia Street Franklin, LA 70538 Phone: (337) 828-0143 Routing number: 22417

Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. 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. 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. 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. Unlike banks credit unions limit their activities to a closed circle of people. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.