Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. 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. 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. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate.
Credit Union Location in Passaic, New Jersey
Passaic, New Jersey have 2 agent Credit Union location in your country. All country.
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. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations.
| Agent | Contacts |
|---|---|
| Passaic Police Federal Credit Union, Passaic |
330 Passaic Street Passaic, NJ 07055
Phone: (973) 365-3991 Routing number: 12227 Charter number: 221277751 |
| Passaic Postal Employees Credit Union, Passaic |
46 Grove Street Passaic, NJ 07055
Phone: (973) 473-1164 Routing number: 60448 Charter number: 221277748 |
In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). 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. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.
- Western Union money transfer agent location in Iowa, Webster City
- Western Union money transfer agent location in Michigan, Jackson
- Western Union money transfer agent location in Minnesota, Bloomington
- Western Union money transfer agent location in Ohio, Garfield Hts
- Western Union money transfer agent location in Virginia, Charlottesville