Money transfer agent locations

The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. Unlike banks credit unions limit their activities to a closed circle of people. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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.


Credit Union Location in Oregon

The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. Unlike banks credit unions limit their activities to a closed circle of people. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments.


Select your city for


To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. 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. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. 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. Membership in the credit union is voluntary and is open to all citizens bound by with joint work or residence, who wished to create a credit union to use its services and are willing to take on relevant commitments and responsibilities.