Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.
Credit Union Location in Howland, Maine
Howland, Maine have 1 agent Credit Union location in your country. All country.
Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. In the credit union compensation for use of the loan (interest) is a source of compensation for savings.
| Agent | Contacts |
|---|---|
| Howland - Enfield Federal Credit Union, Howland |
Howland - Enfield Federal Credit Union 16 Coffin Street Howland, ME 04448-0405
Phone: (207) 732-3686 Routing number: 14211 Charter number: 211287858 |
Like any financial institution, credit unions have the financial resources. 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. 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. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations.
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