Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Credit union as a consumer cooperative operates on the principles of equality of all its members. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. Corporate alliances are intermediaries between credit unions and financial markets.
Credit Union Location in Trenary, Michigan
Trenary, Michigan have 1 agent Credit Union location in your country. All country.
Credit union as a consumer cooperative operates on the principles of equality of all its members. Corporate alliances are intermediaries between credit unions and financial markets.
| Agent | Contacts |
|---|---|
| Trenary Cooperative Federal Credit Union, Trenary |
E 2906 State Hwy M-67 Trenary, MI 49891
Phone: (906) 446-3301 Routing number: 07278 |
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. Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. Corporate alliances are intermediaries between credit unions and financial markets.
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