Credit Union Location in Brookhaven, Pennsylvania

Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. 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. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments. Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. Credit union as a consumer cooperative operates on the principles of equality of all its members.

Credit Union Location in Brookhaven, Pennsylvania

Brookhaven, Pennsylvania have 1 agent Credit Union location in your country. All country.

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. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations.

Agent	Contacts
Sentry Federal Credit Union, Brookhaven	3524 Edgmont Avenue Brookhaven, PA 19015 Phone: (610) 447-9900 Routing number: 19800 Charter number: 236083493

Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. In recent decades, many credit unions began to resort to such form of service as To reduce the risk of default on loans members of the credit union shall the joint guarantee. 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 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. 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. 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. Corporate alliances are intermediaries between credit unions and financial markets.