Credit Union Location in Irvington, New Jersey

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. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. The right to use the services of the credit union have only its members. Unlike banks credit unions limit their activities to a closed circle of people.

Credit Union Location in Irvington, New Jersey

Irvington, New Jersey have 1 agent Credit Union location in your country. All country.

Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. Unlike banks credit unions limit their activities to a closed circle of people.

Agent	Contacts
Division 819 Transit Employees Credit Union, Irvington	186 Brookside Ave Irvington, NJ 07111 Phone: (973) 373-2332 Routing number: 62855 Charter number: 221276024

Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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.