Credit Union Location in Saint Paul, Minnesota

Credit unions also differ from the traditional consumer cooperatives. 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). Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies. 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.

Credit Union Location in Saint Paul, Minnesota

Saint Paul, Minnesota have 2 agent Credit Union location in your country. All country.

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). Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies.

Agent	Contacts
H.B.I. Employees Credit Union, Saint Paul	3415 University Ave Saint Paul, MN 55114 Phone: (651) 642-4490 Routing number: 64959
Healtheast Employees Credit Union, Saint Paul	1700 University Ave W Saint Paul, MN 55104 Phone: (651) 232-5600 Routing number: 60102

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. Credit union services are available only to its shareholders. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. The right to use the services of the credit union have only its members. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).