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The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. 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. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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.


Good Fellowship Federal Credit Union, Credit Union Location Brooklyn, New York


Name Contacts Info
Good Fellowship Federal Credit Union
915 East 7th Street #1h Brooklyn, NY 11230 Phone: (718) 258-3942
Routing number: 10077
Charter number: 226074470
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