In the U.S., credit unions have a clear organizational structure. All credit unions belong to one or the other parent credit union (there are 35 of them in the U.S.). Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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. 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 Union Location in Westport, Massachusetts
Westport, Massachusetts have 1 agent Credit Union location in your country. All country.
Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. The main advantage of credit unions consists in transparency, controllability, governance for shareholders.
| Agent | Contacts |
|---|---|
| Westport Federal Credit Union, Westport |
655 State Rd Westport, MA 02790
Phone: (508) 679-0197 Routing number: 07652 Charter number: 211386759 |
Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. In recent decades, many credit unions began to resort to such form of service as Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. 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 - one of the most attractive financial institutions for the public being a non-profit alternative to banks. 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.
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