Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). Credit union services are available only to its shareholders. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). 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 Location in Stillwater, Oklahoma
Stillwater, Oklahoma have 1 agent Credit Union location in your country. All country.
Credit union services are available only to its shareholders. 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.
| Agent | Contacts |
|---|---|
| University & Community Federal Credit Union, Stillwater |
311 E Mcelroy Stillwater, OK 74075
Phone: (405) 743-3328 Routing number: 18965 |
Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). Typically, donor contributions to the credit unions are targeted and used in the same statutory requirements and restrictions as the Mutual Financial Aid fund as a whole. 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. 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. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members.
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