The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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 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 Ruston, Louisiana
Ruston, Louisiana have 1 agent Credit Union location in your country. All country.
Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. 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.
| Agent | Contacts |
|---|---|
| Jaco Federal Credit Union, Ruston |
102 West Alabama Ave Ruston, LA 71270
Phone: (318) 255-9101 Routing number: 14291 |
To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars 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. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).