Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. 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. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate.
Credit Union Location in Newtown, Pennsylvania
Newtown, Pennsylvania have 1 agent Credit Union location in your country. All country.
Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions.
| Agent | Contacts |
|---|---|
| Bc3 Employees Federal Credit Union, Newtown |
275 Swamp Road Newtown, PA 18940
Phone: (215) 968-8021 Routing number: 22042 |
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. 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. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies.
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