Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. 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 Warrensburg, Missouri
Warrensburg, Missouri have 1 agent Credit Union location in your country. All country.
Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union.
| Agent | Contacts |
|---|---|
| Central Missouri Community Credit Union, Warrensburg |
201 S Holden St Warrensburg, MO 64093
Phone: (660) 747-3311 Routing number: 60383 |
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). Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. 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. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
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