Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. 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. 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 - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Credit union as a consumer cooperative operates on the principles of equality of all its members. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions.
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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 - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. 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.
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National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.