Like any financial institution, credit unions have the financial resources. 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. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
Credit Union Location in Port Washington, New York
Port Washington, New York have 2 agent Credit Union location in your country. All country.
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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings.
| Agent | Contacts |
|---|---|
| Port Washington Federal Credit Union, Port Washington |
157 Main Street Port Washington, NY 11050
Phone: (516) 883-3537 Routing number: 18635 Charter number: 221479407 |
| Port Washington Teachers Federal Credit Union, Port Washington |
101 Sands Point Road Port Washington, NY 11050
Phone: (516) 883-1227 Routing number: 06958 Charter number: 221475650 |
In recent decades, many credit unions began to resort to such form of service as Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions.
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