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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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. 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. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. 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. Corporate alliances are intermediaries between credit unions and financial markets.
Name | Contacts | Info |
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Alco Federal Credit Union |
2859 Lindy Lane Wellsville, NY 148959337 | Phone: (585) 593-4959 Routing number: 08975 Charter number: 222380391 |