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. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Credit unions also differ from the traditional consumer cooperatives. 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 appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. 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. Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption. The right to use the services of the credit union have only its members.
Credit Union Location in Bethpage, New York
Bethpage, New York have 1 agent Credit Union location in your country. All country.
Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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.
| Agent | Contacts |
|---|---|
| Bethpage Federal Credit Union, Bethpage |
899 So. Oyster Bay Road Bethpage, NY 11714
Phone: (516) 349-6800 Routing number: 04735 Charter number: 221473652 |
Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. 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. 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. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services.
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