Membership in the credit union is voluntary and is open to all citizens bound by with joint work or residence, who wished to create a credit union to use its services and are willing to take on relevant commitments and responsibilities. National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. 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. The right to use the services of the credit union have only its members. Unlike banks credit unions limit their activities to a closed circle of people. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
Credit Union Location in Grand Rapids, Michigan
Grand Rapids, Michigan have 13 agent Credit Union location in your country. All country.
National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. The right to use the services of the credit union have only its members.
| Agent | Contacts |
|---|---|
| Option 1 Credit Union, Grand Rapids |
630 32nd Street Se Grand Rapids, MI 49548
Phone: (616) 243-0125 Routing number: 60936 Charter number: 272480432 |
| West Michigan Credit Union, Grand Rapids |
1319 Front Ave Nw Grand Rapids, MI 49504
Phone: (616) 451-4567 Routing number: 62347 Charter number: 272481004 |
| Western Districts Members Credit Union, Grand Rapids |
201 36th Street Se Grand Rapids, MI 49548-2213
Phone: 616-241-2516 ext. 201 Routing number: 62073 Charter number: 272481017 |
Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. 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. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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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