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Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. 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. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.


Yonkers Teachers Federal Credit Union, Credit Union Location Yonkers, New York


Name Contacts Info
Yonkers Teachers Federal Credit Union
1061 North Broadway Yonkers, NY 10701 Phone: (914) 376-7088
Routing number: 02819
Charter number: 221981270
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