Like any financial institution, credit unions have the financial resources. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. 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. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. Corporate alliances are intermediaries between credit unions and financial markets.
Credit Union Location in Stoneham, Massachusetts
Stoneham, Massachusetts have 1 agent Credit Union location in your country. All country.
Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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.
| Agent | Contacts |
|---|---|
| Stoneham Municipal Employees Federal Credit Union, Stoneham |
40 Pine Street Stoneham, MA 02180
Phone: (781) 438-3959 Routing number: 15393 Charter number: 211386005 |
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. 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. 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. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions.
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