Credit Union Location in Port Jefferson, New York

The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. 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 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. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members.

Credit Union Location in Port Jefferson, New York

Port Jefferson, New York have 1 agent Credit Union location in your country. All country.

Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. 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.

Agent	Contacts
Long Island Community Federal Credit Union, Port Jefferson	200 Belle Terre Rd Port Jefferson, NY 11777 Phone: (631) 476-6581 Routing number: 21277 Charter number: 221479397

National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Unlike banks credit unions limit their activities to a closed circle of people.