Money transfer agent locations

To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. 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. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. 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. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.


Allegis Credit Union, Credit Union Location Kalamazoo, Michigan


Name Contacts Info
Allegis Credit Union
5713 Venture Park Kalamazoo, MI 49009 Phone: (269) 372-4455
Routing number: 60445
Charter number: 272481884
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