Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). Credit unions also differ from the traditional consumer cooperatives. 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. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate. Corporate alliances are intermediaries between credit unions and financial markets.
Credit Union Location in Attica, New York
Attica, New York have 1 agent Credit Union location in your country. All country.
Credit unions also differ from the traditional consumer cooperatives. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries.
| Agent | Contacts |
|---|---|
| Att-Wyo Correctional Employees Federal Credit Union, Attica |
Att-Wyo Correctional Employees Federal Credit Union 221 E Main St Attica, NY 14011
Phone: (585) 591-1055 Routing number: 00884 Charter number: 222379137 |
Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. 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. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee.