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. 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. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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). In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others.
Credit Union Location in Southfield, Michigan
Southfield, Michigan have 5 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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy.
| Agent | Contacts |
|---|---|
| Construction Federal Credit Union, Southfield |
21800 W 10 Mile Rd Ste 110 Southfield, MI 48075
Phone: (248) 358-4140 Routing number: 21798 Charter number: 272478130 |
| Credit Union Advantage Credit Union, Southfield |
22250 Providence Drive Southfield, MI 48075
Phone: (248) 996-6070 Routing number: 62517 |
| Peoples Trust Credit Union, Southfield |
24333 Lahser Southfield, MI 48033
Phone: (248) 263-4100 Routing number: 61068 |
| Southeast Michigan State Employees Federal Credit Union, Southfield |
17135 W. 10 Mile Road Southfield, MI 48075
Phone: (248) 557-2266 Routing number: 07628 Charter number: 272478350 |
| Telcom Credit Union, Southfield |
44575 West 12 Mile Road Novi, MI 48377
Phone: (248) 735-9500 Routing number: 62236 Charter number: 272479388 |
Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
- Western Union money transfer agent location in Georgia, Marietta
- Western Union money transfer agent location in Hawaii, Waialua
- Western Union money transfer agent location in Minnesota, Moorhead
- Western Union money transfer agent location in North Carolina, Roxboro
- Western Union money transfer agent location in Ohio, Carey
- Western Union money transfer agent location in Ohio, Coshocton
- Western Union money transfer agent location in Oklahoma, Midwest City
- Western Union money transfer agent location in Wisconsin, Black River Falls
- Western Union money transfer agent location in Wisconsin, Chippewa Falls