Typically, donor contributions to the credit unions are targeted and used in the same statutory requirements and restrictions as the Mutual Financial Aid fund as a whole. 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
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The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. 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.
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The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit.