Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings. The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests. Credit unions also differ from the traditional consumer cooperatives. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. 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. 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.
Credit Union Location in Cadillac, Michigan
Cadillac, Michigan have 1 agent Credit Union location in your country. All country.
The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings.
| Agent | Contacts |
|---|---|
| Wexford Community Credit Union, Cadillac |
1021 N. Mitchel St Cadillac, MI 49601
Phone: (231) 775-2081 Routing number: 65639 Charter number: 272477322 |
In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services.
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