Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Like any financial institution, credit unions have the financial resources. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders.
Cayce, South Carolina have 1 agent Credit Union location in your country. All country.
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders.
|1st Cooperative Federal Credit Union, Cayce||
808 Knox Abbott Drive Cayce, SC 29033
Phone: (803) 796-0234
Routing number: 24627
Charter number: 253278333
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. The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. 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. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.