Credit Union Location in Watertown, South Dakota

In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. 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. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. 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. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.

Credit Union Location in Watertown, South Dakota

Watertown, South Dakota have 3 agent Credit Union location in your country. All country.

The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations.

Agent	Contacts
Glacial Lakes Educational Employees Federal Credit Union, Watertown	2145 Cedar Drive Watertown, SD 57201 Phone: (605) 882-6933 Routing number: 09233
Sioux Valley Coop Federal Credit Union, Watertown	316 E. Kemp Watertown, SD 57201 Phone: (605) 882-2706 Routing number: 08752
Watertown Employees Federal Credit Union, Watertown	1620 4th Street Ne Watertown, SD 57201 Phone: (605) 882-2357 Routing number: 08801

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. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. 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. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).