National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. The right to use the services of the credit union have only its members. 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. Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. 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.
Credit Union Location in Massachusetts
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. Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. The right to use the services of the credit union have only its members.
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National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.