Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. 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 encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. 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.
Credit Union Location in Grand Blanc, Michigan
Grand Blanc, Michigan have 1 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. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount.
| Agent | Contacts |
|---|---|
| Tri-Pointe Community Credit Union, Grand Blanc |
Tri-Pointe Community Credit Union 2343 E. Hill Road Grand Blanc, MI 48439-5059
Phone: (810) 694-1301 Routing number: 61813 Charter number: 272480047 |
In recent decades, many credit unions began to resort to such form of service as Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.
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