First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. The right to use the services of the credit union have only its members. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments.
New Hampshire have 13 cities with Credit Union location in your country. All country.
To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. To reduce the risk of default on loans members of the credit union shall the joint guarantee. The right to use the services of the credit union have only its members.