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 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 difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. 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. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU.
Credit Union Location in Dawson, Minnesota
Dawson, Minnesota have 1 agent Credit Union location in your country. All country.
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. 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.
| Agent | Contacts |
|---|---|
| Dawson Co-Op Credit Union, Dawson |
Dawson Co-Op Credit Union 711 6th St Dawson, MN 56232
Phone: (320) 769-2908 Routing number: 61624 |
The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. The right to use the services of the credit union have only its members. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders.
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