To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. 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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America.
Credit Union Location in Ohio
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. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
Select your city for
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. 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. Credit union services are available only to its shareholders. 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. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders.