Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. 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 unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.
Credit Union Location in Meadville, Pennsylvania
Meadville, Pennsylvania have 1 agent Credit Union location in your country. All country.
As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).
| Agent | Contacts |
|---|---|
| Meadville Area Federal Credit Union, Meadville |
300 Arch St Meadville, PA 16335
Phone: (814) 336-2794 Routing number: 06187 Charter number: 243382527 |
Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. To reduce the risk of default on loans members of the credit union shall the joint guarantee. 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 main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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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