Like any financial institution, credit unions have the financial resources. 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. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. The relationship between credit unions and shareholders arise from the membership and are not customer relationship.
Credit Union Location in St. Gabriel, Louisiana
St. Gabriel, Louisiana have 1 agent Credit Union location in your country. All country.
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 appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative.
| Agent | Contacts |
|---|---|
| C. G. Federal Credit Union, St. Gabriel |
3905 Hwy 75 Saint Gabriel, LA 70776
Phone: (225) 642-1210 Routing number: 22512 |
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Credit unions also differ from the traditional consumer cooperatives. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. 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.
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