Typically, donor contributions to the credit unions are targeted and used in the same statutory requirements and restrictions as the Mutual Financial Aid fund as a whole. Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. 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 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.
Name | Contacts | Info |
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Independence Teachers Credit Union |
201 N Forest Ave Independence, MO 64050-2513 | Phone: (816) 521-5378 Routing number: 62620 |