Credit Union Location in Shavertown, Pennsylvania

When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. 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 Shavertown, Pennsylvania

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

Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU.

Agent	Contacts
Offset Paperback Federal Credit Union, Shavertown	52 South Memorial Hwy Trucksville, PA 18708 Phone: (570) 696-1633 Routing number: 21458 Charter number: 231380272

National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. 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. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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 main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. 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. 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. Unlike banks credit unions limit their activities to a closed circle of people.