Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Credit union as a consumer cooperative operates on the principles of equality of all its members.
Credit Union Location in West Springfiel, Massachusetts
West Springfiel, Massachusetts have 1 agent Credit Union location in your country. All country.
All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. 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.
| Agent | Contacts |
|---|---|
| West Springfield Federal Credit Union, West Springfiel |
58 Union Street West Springfield, MA 01089
Phone: (413) 733-6108 Routing number: 13781 Charter number: 211886288 |
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. " First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. Membership in the credit union forms responsible citizens and conscientious attitude to their obligations as a norm of behavior, identify the value of a decent man's reputation in the business turnover. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.