Credit Union Location in Ann Arbor, Michigan

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.). Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). 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 Ann Arbor, Michigan

Ann Arbor, Michigan have 3 agent Credit Union location in your country. All country.

Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. To reduce the risk of default on loans members of the credit union shall the joint guarantee.

Agent	Contacts
2nd Baptist Ch. Of Ann Arbor Federal Credit Union, Ann Arbor	850 Red Oak Ann Arbor, MI 48103 Phone: 734-663-9369 ext. 226 Routing number: 19730 Charter number: 272476569
Ann Arbor Postal Federal Credit Union, Ann Arbor	18459 Redman Rd. Milan, MI 48160 Phone: (734) 439-3075 Routing number: 07126 Charter number: 272476514
University Of Michigan Credit Union, Ann Arbor	333 E. William Ann Arbor, MI 48104 Phone: (734) 662-8200 Routing number: 61552 Charter number: 272476543

First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.