Money transfer agent locations

The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. 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. Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Credit unions also differ from the traditional consumer cooperatives. Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings.


Credit Union Location in North Dakota

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. Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively.


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The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. 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. Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Credit union services are available only to its shareholders. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Credit unions also differ from the traditional consumer cooperatives. The main advantage of credit unions consists in transparency, controllability, governance for shareholders.