Money transfer agent locations

Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. 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. The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative.


Credit Union Location in Louisiana

The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. 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.


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Membership in the credit union forms responsible citizens and conscientious attitude to their obligations as a norm of behavior, identify the value of a decent man's reputation in the business turnover. 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. 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. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate. Credit union services are available only to its 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. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.