Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. 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. Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).
Credit Union Location in Girard, Ohio
Girard, Ohio have 1 agent Credit Union location in your country. All country.
Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption.
| Agent | Contacts |
|---|---|
| Girard Credit Union, Girard |
526 N. Saint Clair Girard, OH 44420
Phone: (330) 545-8203 Routing number: 62518 Charter number: 241278950 |
The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. 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. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. Credit union as a consumer cooperative operates on the principles of equality of all its members.