Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Unlike banks credit unions limit their activities to a closed circle of people. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.
Credit Union Location in Montana
Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Unlike banks credit unions limit their activities to a closed circle of people. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions.
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Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption. Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union).