Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. In recent decades, many credit unions began to resort to such form of service as Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution.
Credit Union Location in Lawton, Oklahoma
Lawton, Oklahoma have 2 agent Credit Union location in your country. All country.
In recent decades, many credit unions began to resort to such form of service as At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy.
| Agent | Contacts |
|---|---|
| Comanche County Federal Credit Union, Lawton |
916 W Gore Blvd Lawton, OK 73501
Phone: (580) 353-3755 Routing number: 16367 |
| Southwest Oklahoma Federal Credit Union, Lawton |
1806 Nw Liberty Ave Lawton, OK 73507
Phone: (580) 353-0490 Routing number: 12271 |
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. Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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.