Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate. 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.
Credit Union Location in Frankenmuth, Michigan
Frankenmuth, Michigan have 1 agent Credit Union location in your country. All country.
Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. 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.
| Agent | Contacts |
|---|---|
| Frankenmuth Credit Union, Frankenmuth |
580 N Main St Frankenmuth, MI 48734
Phone: (989) 497-1600 Routing number: 61755 Charter number: 272480131 |
The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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. Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
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