Money transfer agent locations

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. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. 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 Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit.


Credit Union Location in Louisiana

The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. 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. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties.


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Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. 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. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. In recent decades, many credit unions began to resort to such form of service as 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.