The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter.
In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members.